Cypress Asset Management Inc. TX Sells 70 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cypress Asset Management Inc. TX lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,814 shares of the wireless technology company’s stock after selling 70 shares during the quarter. QUALCOMM makes up approximately 1.5% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 22nd largest position. Cypress Asset Management Inc. TX’s holdings in QUALCOMM were worth $5,400,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM in the 1st quarter worth about $27,000. CarsonAllaria Wealth Management Ltd. raised its position in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $32,000. Cherry Tree Wealth Management LLC raised its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its position in QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. Insiders sold 35,129 shares of company stock valued at $6,730,436 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Mizuho increased their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Westpark Capital reiterated a “hold” rating on shares of QUALCOMM in a research report on Tuesday. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.63.

QUALCOMM Price Performance

QUALCOMM stock traded down $4.69 during midday trading on Friday, reaching $159.31. The company’s stock had a trading volume of 16,618,860 shares, compared to its average volume of 9,984,102. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.98 and a current ratio of 2.39. The stock’s 50 day simple moving average is $200.91 and its 200 day simple moving average is $178.05. The firm has a market capitalization of $177.47 billion, a PE ratio of 21.41, a P/E/G ratio of 1.99 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

QUALCOMM 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.