Private Wealth Partners LLC Sells 805 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Private Wealth Partners LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,966 shares of the wireless technology company’s stock after selling 805 shares during the period. QUALCOMM comprises about 1.4% of Private Wealth Partners LLC’s investment portfolio, making the stock its 22nd largest position. Private Wealth Partners LLC’s holdings in QUALCOMM were worth $16,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the period. Morgan Stanley grew its position in QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after acquiring an additional 438,660 shares during the period. Northern Trust Corp grew its position in QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after acquiring an additional 415,398 shares during the period. Bank of New York Mellon Corp grew its position in QUALCOMM by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 11,040,055 shares of the wireless technology company’s stock valued at $1,226,109,000 after acquiring an additional 90,163 shares during the period. Finally, Invesco Ltd. grew its position in QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after acquiring an additional 1,253,173 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 1.4 %

NASDAQ:QCOM traded up $2.36 during mid-day trading on Friday, hitting $165.66. The company had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The business’s fifty day moving average is $165.84 and its two-hundred day moving average is $144.70. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market cap of $184.88 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.05%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. JPMorgan Chase & Co. decreased their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Cantor Fitzgerald increased their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Evercore ISI initiated coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Finally, Rosenblatt Securities increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by company insiders.

QUALCOMM 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.