Delta Capital Management LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Delta Capital Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,265 shares of the wireless technology company’s stock after selling 815 shares during the quarter. QUALCOMM comprises 1.5% of Delta Capital Management LLC’s holdings, making the stock its 12th largest position. Delta Capital Management LLC’s holdings in QUALCOMM were worth $3,727,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of QCOM. Tallon Kerry Patrick acquired a new stake in QUALCOMM during the fourth quarter worth about $207,000. LaFleur & Godfrey LLC grew its holdings in QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock valued at $480,000 after purchasing an additional 300 shares during the period. Brighton Jones LLC grew its holdings in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $10,394,000. Finally, Revolve Wealth Partners LLC grew its holdings in QUALCOMM by 15.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after purchasing an additional 340 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.5%

NASDAQ QCOM opened at $158.70 on Friday. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $174.25 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The firm’s fifty day simple moving average is $145.25 and its 200-day simple moving average is $155.17.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the prior year, the company posted $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 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 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the sale, the chief financial officer now owns 49,779 shares in the company, 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. In the last 90 days, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on QCOM. Wells Fargo & Company lowered their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Loop Capital reduced their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Citigroup reduced their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of “Hold” and an average target price 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.