QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,260 shares of the wireless technology company’s stock after selling 854 shares during the period. Rakuten Securities Inc.’s holdings in QUALCOMM were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of QCOM. WFA Asset Management Corp bought a new stake in QUALCOMM in the first quarter worth about $27,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth approximately $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the 4th quarter valued at $26,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter valued at $29,000. Finally, Sunbeam Capital Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $29,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 1.4%

Shares of QCOM stock opened at $156.87 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $172.24 billion, a P/E ratio of 16.76, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The stock’s fifty day simple moving average is $146.50 and its 200 day simple moving average is $155.12.

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, beating 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 business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business earned $2.44 EPS. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.27%. QUALCOMM’s payout ratio is presently 36.25%.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the sale, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the transaction, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on QCOM shares. TD Cowen reduced their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Citigroup cut their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. Finally, Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $189.88.

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.