QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Lowered by Baxter Bros Inc.

Baxter Bros Inc. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,160 shares of the wireless technology company’s stock after selling 2,580 shares during the period. QUALCOMM makes up 2.8% of Baxter Bros Inc.’s portfolio, making the stock its 9th biggest position. Baxter Bros Inc.’s holdings in QUALCOMM were worth $19,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Glass Jacobson Investment Advisors llc lifted its holdings in shares of QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after acquiring an additional 68 shares during the period. Chilton Capital Management LLC grew its stake in QUALCOMM by 1.9% during the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. Means Investment CO. Inc. raised its stake in shares of QUALCOMM by 1.2% in the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock valued at $838,000 after acquiring an additional 71 shares during the last quarter. Marino Stram & Associates LLC raised its stake in shares of QUALCOMM by 2.5% in the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after acquiring an additional 73 shares during the last quarter. Finally, First Command Advisory Services Inc. grew its position in QUALCOMM by 6.1% during the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock worth $198,000 after acquiring an additional 79 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,260 shares of company stock worth $7,429,728. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on QCOM. Bank of America boosted their price objective on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays increased their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group boosted their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday. Canaccord Genuity Group lifted their target price on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wolfe Research boosted their target price on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $179.36.

QUALCOMM Stock Down 0.3 %

Shares of NASDAQ:QCOM traded down $0.46 during mid-day trading on Friday, reaching $179.64. 10,043,912 shares of the stock were exchanged, compared to its average volume of 8,171,053. The company has a market cap of $200.48 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.46 and a beta of 1.33. The stock’s 50 day simple moving average is $167.69 and its 200-day simple moving average is $146.59. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $183.19.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

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.