Texas Yale Capital Corp. Sells 1,350 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Texas Yale Capital Corp. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,422 shares of the wireless technology company’s stock after selling 1,350 shares during the quarter. Texas Yale Capital Corp.’s holdings in QUALCOMM were worth $2,062,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC increased its position in QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock worth $26,000 after buying an additional 70 shares during the last quarter. WFA Asset Management Corp acquired a new stake in QUALCOMM in the 1st quarter worth approximately $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in QUALCOMM in the 4th quarter worth approximately $30,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $158.40 on Monday. The stock has a market cap of $173.92 billion, a PE ratio of 16.13, a P/E/G ratio of 2.04 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.64. The stock’s 50 day simple moving average is $154.60 and its 200-day simple moving average is $154.97.

QUALCOMM (NASDAQ:QCOM) last released 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. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM’s dividend payout ratio is 36.25%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird reduced their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Susquehanna reduced their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, Loop Capital reduced their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $184.86.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s 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 completion of the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.