Kingstone Capital Partners Texas LLC Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kingstone Capital Partners Texas LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the first quarter, Holdings Channel.com reports. The firm owned 8,949 shares of the wireless technology company’s stock after selling 255 shares during the period. QUALCOMM comprises about 1.1% of Kingstone Capital Partners Texas LLC’s holdings, making the stock its 28th biggest position. Kingstone Capital Partners Texas LLC’s holdings in QUALCOMM were worth $1,375,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in QUALCOMM by 0.6% during 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 acquiring an additional 707,468 shares during the period. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 2.5% in the 4th 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 during the period. Norges Bank bought a new position in QUALCOMM in the fourth quarter worth about $2,721,882,000. Amundi lifted its position in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of QUALCOMM by 12.7% during 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 purchasing an additional 1,493,076 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at $7,272,711.90. The trade was a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 425,064 shares of company stock worth $8,381,948. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $155.41 on Tuesday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company’s 50 day simple moving average is $143.64 and its 200-day simple moving average is $155.11. The company has a market capitalization of $170.64 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the previous year, the company posted $2.44 EPS. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.29%. QUALCOMM’s dividend payout ratio is 36.25%.

Wall Street Analyst Weigh In

A number of research firms recently commented on QCOM. Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. Loop Capital dropped their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of “Hold” and a consensus price target of $189.88.

QUALCOMM 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.