KMG Fiduciary Partners LLC Sells 3,110 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

KMG Fiduciary Partners LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 90,185 shares of the wireless technology company’s stock after selling 3,110 shares during the period. QUALCOMM accounts for about 1.2% of KMG Fiduciary Partners LLC’s holdings, making the stock its 17th biggest position. KMG Fiduciary Partners LLC’s holdings in QUALCOMM were worth $13,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in QUALCOMM by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC boosted its holdings in QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank bought a new position in QUALCOMM in the fourth quarter worth approximately $2,721,882,000. Amundi boosted its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $149.24 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $163.87 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 2.01 and a beta of 1.26. The stock has a 50 day moving average of $143.61 and a 200 day moving average of $155.12. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company 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. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insiders Place Their Bets

In other QUALCOMM 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 425,064 shares of company stock valued at $8,381,948 over the last ninety days. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on QCOM shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a report on Tuesday, April 29th. Citigroup dropped their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Loop Capital dropped their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Finally, Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $189.88.

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.