D.A. Davidson & CO. Has $65.47 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

D.A. Davidson & CO. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 426,220 shares of the wireless technology company’s stock after selling 1,391 shares during the period. D.A. Davidson & CO.’s holdings in QUALCOMM were worth $65,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. grew its holdings in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after buying an additional 707,468 shares in the last quarter. Geode Capital Management LLC boosted its position in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after acquiring an additional 670,432 shares during the last quarter. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi grew its stake in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of QUALCOMM by 12.7% in the fourth 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. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen reduced their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, Citigroup decreased 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. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $186.96.

QUALCOMM Trading Up 1.8%

Shares of QCOM stock opened at $162.32 on Thursday. The stock has a market cap of $178.23 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $211.09. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $150.75 and a 200 day simple moving average of $154.87.

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 analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the company posted $2.44 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 22,793 shares in the company, valued at $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 426,797 shares of company stock worth $8,672,710. Corporate 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.