Waddell & Associates LLC Sells 83 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Waddell & Associates LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.2% during the first quarter, HoldingsChannel reports. The firm owned 1,503 shares of the wireless technology company’s stock after selling 83 shares during the quarter. Waddell & Associates LLC’s holdings in QUALCOMM were worth $231,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter worth $27,000. Banque Transatlantique SA bought 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 acquiring an additional 70 shares during the period. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new position in QUALCOMM during the fourth quarter worth $30,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Bank of America decreased their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, June 17th. Wells Fargo & Company decreased their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Robert W. Baird decreased their price target on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus price target of $184.86.

QUALCOMM Stock Performance

QUALCOMM stock opened at $158.40 on Friday. 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 company has a market cap of $173.92 billion, a PE ratio of 16.13, a PEG ratio of 2.04 and a beta of 1.26. The company’s 50-day moving average is $154.60 and its two-hundred day moving average is $155.00.

QUALCOMM (NASDAQ:QCOM) last released its earnings results 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 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion for 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. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.25%. QUALCOMM’s payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at approximately $7,490,810.88. This represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock worth $8,310,735. Company insiders own 0.08% of the company’s stock.

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.