HM Payson & Co. Sells 124 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

HM Payson & Co. lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,352 shares of the wireless technology company’s stock after selling 124 shares during the period. HM Payson & Co.’s holdings in QUALCOMM were worth $976,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Norges Bank acquired a new stake in shares of QUALCOMM during the fourth quarter worth $2,721,882,000. Amundi increased its position in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the period. GAMMA Investing LLC increased its position in shares of QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after buying an additional 3,247,068 shares during the period. Northern Trust Corp increased its position in shares of QUALCOMM by 12.7% during 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 buying an additional 1,493,076 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on QCOM. Evercore ISI decreased their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. 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 report on Thursday, May 1st. Finally, Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $186.96.

QUALCOMM Stock Down 0.1%

Shares of NASDAQ QCOM opened at $162.11 on Friday. The stock has a market capitalization of $177.99 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. The company has a 50-day moving average price of $151.32 and a 200-day moving average price of $154.94. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08.

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 analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period last year, the company earned $2.44 earnings per share. The business’s revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast 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 was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 425,016 shares of company stock valued at $8,437,440 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.