Signet Financial Management LLC Sells 268 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Signet Financial Management LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,464 shares of the wireless technology company’s stock after selling 268 shares during the period. Signet Financial Management LLC’s holdings in QUALCOMM were worth $379,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the 4th quarter valued at $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter valued at $26,000. WFA Asset Management Corp bought a new position in QUALCOMM during the 1st quarter valued at $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter valued at $29,000. Finally, Sunbeam Capital Management LLC bought a new position in QUALCOMM during the 4th quarter valued at $29,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now owns 22,793 shares of the company’s stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.4%

QUALCOMM stock opened at $159.13 on Wednesday. The stock’s fifty day moving average is $144.03 and its two-hundred day moving average is $155.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a market cap of $174.72 billion, a PE ratio of 17.00, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the firm earned $2.44 earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is 36.25%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on QCOM shares. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Robert W. Baird lowered their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $189.88.

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.