QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 888,389 shares of the wireless technology company’s stock after selling 59,968 shares during the quarter. Bahl & Gaynor Inc. owned about 0.08% of QUALCOMM worth $128,488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. Morgan Stanley increased its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the last quarter. Northern Trust Corp increased its position in shares of QUALCOMM by 3.5% during the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after purchasing an additional 415,398 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of QUALCOMM by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 11,040,055 shares of the wireless technology company’s stock worth $1,226,109,000 after purchasing an additional 90,163 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of QUALCOMM by 15.7% during the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after purchasing an additional 1,253,173 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the subject of a number of recent analyst reports. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Mizuho raised their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Benchmark assumed coverage on QUALCOMM in a report on Tuesday. They set a “buy” rating and a $200.00 target price for the company. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of QUALCOMM 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 transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QCOM stock opened at $165.66 on Friday. The business has a 50 day moving average price of $165.84 and a 200 day moving average price of $144.47. The stock has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.24 and a beta of 1.41. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 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 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. 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 yield of 2.05%. QUALCOMM’s payout ratio is presently 46.38%.

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.