HM Payson & Co. Sells 920 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

HM Payson & Co. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,736 shares of the wireless technology company’s stock after selling 920 shares during the period. HM Payson & Co.’s holdings in QUALCOMM were worth $971,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Peoples Bank OH purchased a new stake in QUALCOMM in the fourth quarter worth approximately $219,000. NewEdge Wealth LLC boosted its stake in QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares in the last quarter. Alexander Randolph Advisory Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $305,000. City Holding Co. boosted its stake in shares of QUALCOMM by 3.5% during the first quarter. City Holding Co. now owns 5,884 shares of the wireless technology company’s stock valued at $996,000 after purchasing an additional 199 shares during the period. Finally, Bard Financial Services Inc. boosted its stake in shares of QUALCOMM by 0.4% during the fourth quarter. Bard Financial Services Inc. now owns 34,790 shares of the wireless technology company’s stock valued at $5,032,000 after purchasing an additional 125 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the transaction, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at $11,987,516.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the transaction, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The disclosure for this sale can be found here. Insiders have sold 35,129 shares of company stock valued at $6,730,436 over the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 2.9 %

Shares of NASDAQ:QCOM traded down $4.69 on Friday, hitting $159.31. 16,618,860 shares of the company traded hands, compared to its average volume of 9,984,102. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $200.91 and a 200-day simple moving average of $178.31. The company has a market cap of $177.47 billion, a PE ratio of 21.41, a PEG ratio of 1.99 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QCOM shares. Tigress Financial increased their price objective on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Canaccord Genuity Group increased their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Barclays increased their price objective on QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Rosenblatt Securities raised their price target on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.63.

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.