QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 455,289 shares of the wireless technology company’s stock after selling 7,729 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in QUALCOMM were worth $69,937,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Howard Bailey Securities LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $240,000. Teza Capital Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC acquired a new stake in QUALCOMM in the 4th quarter valued at approximately $303,000. Amundi raised its stake in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, First Foundation Advisors boosted its position in QUALCOMM by 41.2% during the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock worth $24,083,000 after acquiring an additional 45,769 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. One research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $189.88.

QUALCOMM Stock Performance

Shares of QCOM opened at $159.48 on Thursday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $175.11 billion, a PE ratio of 17.04, a PEG ratio of 2.01 and a beta of 1.26. The company’s 50 day moving average price is $144.67 and its 200 day moving average price is $155.17.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the previous year, the company posted $2.44 EPS. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. 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 dividend yield of 2.23%. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Activity

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company’s stock, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock worth $8,135,164 in the last three months. 0.08% of the stock is owned by insiders.

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.