QUALCOMM Incorporated (NASDAQ:QCOM) Stake Cut by First Hawaiian Bank

First Hawaiian Bank reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.7% in the 2nd quarter, Holdings Channel reports. The fund owned 12,074 shares of the wireless technology company’s stock after selling 2,246 shares during the period. First Hawaiian Bank’s holdings in QUALCOMM were worth $2,405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $2,507,978,000. Matrix Capital Management Company LP acquired a new position in QUALCOMM in the first quarter valued at about $1,171,516,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in QUALCOMM during the first quarter worth about $238,770,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded down $1.36 during mid-day trading on Monday, hitting $157.95. 12,526,513 shares of the stock were exchanged, compared to its average volume of 9,451,461. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a 50-day simple moving average of $200.91 and a 200 day simple moving average of $178.59. 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 company has a market capitalization of $175.96 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.99 and a beta of 1.27.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the sale, the director now owns 54 shares in the company, valued at $9,802.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total value of $135,050.88. Following the transaction, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,129 shares of company stock valued at $8,014,436. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on QCOM shares. Deutsche Bank Aktiengesellschaft upped their target price on QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. Bank of America increased their price target on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, KeyCorp increased their price target on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.63.

About QUALCOMM

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.