QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 85.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the wireless technology company’s stock after selling 11,400 shares during the period. FNY Investment Advisers LLC’s holdings in QUALCOMM were worth $307,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after buying an additional 707,468 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 valued at $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM during the 4th quarter worth $2,721,882,000. Amundi increased its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $154.72 on Monday. The stock’s 50 day moving average price is $145.85 and its 200 day moving average price is $155.14. The firm has a market cap of $169.88 billion, a P/E ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the transaction, the chief financial officer now owns 49,779 shares of the company’s stock, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently weighed in on QCOM shares. Loop Capital reduced their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a report on Friday, May 9th. Susquehanna lowered their target price 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. Evercore ISI dropped their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Finally, Robert W. Baird decreased their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average target price of $189.88.

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.