KG&L Capital Management LLC Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

KG&L Capital Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,316 shares of the wireless technology company’s stock after selling 1,732 shares during the period. KG&L Capital Management LLC’s holdings in QUALCOMM were worth $1,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $2,721,882,000. Amundi boosted its stake in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new position in QUALCOMM during the fourth quarter valued at $527,053,000. GAMMA Investing LLC raised its stake in shares of QUALCOMM by 20,700.4% in the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock valued at $501,192,000 after acquiring an additional 3,247,068 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America cut their target price on QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. Robert W. Baird decreased their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. Finally, Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $186.96.

QUALCOMM Stock Up 0.1%

QUALCOMM stock opened at $155.93 on Thursday. The business’s 50-day simple moving average is $148.57 and its two-hundred day simple moving average is $154.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The company has a market cap of $171.21 billion, a PE ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.28%. QUALCOMM’s dividend payout ratio is 36.25%.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at $7,568,140.80. The trade was a 0.46% 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 worth $8,135,164. Company insiders own 0.08% of the company’s stock.

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.