Keybank National Association OH Sells 7,935 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Keybank National Association OH lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% during the 1st quarter, Holdings Channel reports. The fund owned 156,326 shares of the wireless technology company’s stock after selling 7,935 shares during the period. Keybank National Association OH’s holdings in QUALCOMM were worth $24,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC raised its stake in shares of QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after purchasing an additional 300 shares during the last quarter. Brighton Jones LLC raised its stake in shares of QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock worth $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after purchasing an additional 340 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth approximately $26,000. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of QUALCOMM by 6.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 89,966 shares of the wireless technology company’s stock worth $13,821,000 after purchasing an additional 5,226 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares of the company’s stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 426,797 shares of company stock valued at $8,672,710 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $162.32 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The business has a fifty day simple moving average of $150.75 and a two-hundred day simple moving average of $154.87. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The company has a market capitalization of $178.23 billion, a P/E ratio of 16.53, a P/E/G ratio of 2.06 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analyst Weigh In

Several analysts have recently commented on QCOM shares. Loop Capital lowered their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Benchmark lowered their price objective on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $186.96.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.