Yousif Capital Management LLC Sells 2,928 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Yousif Capital Management LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 148,270 shares of the wireless technology company’s stock after selling 2,928 shares during the period. Yousif Capital Management LLC’s holdings in QUALCOMM were worth $22,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 valued at $17,471,231,000 after buying an additional 707,468 shares during the last quarter. Geode Capital Management LLC grew its position in QUALCOMM by 2.5% in 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 purchasing an additional 670,432 shares during the period. Norges Bank purchased a new stake in QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi lifted its holdings 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 valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Northern Trust Corp boosted its stake 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 buying an additional 1,493,076 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 4.1%

Shares of QCOM opened at $155.41 on Tuesday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a market cap of $170.64 billion, a PE ratio of 16.60, a P/E/G ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average of $143.64 and a 200 day moving average of $155.11.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent research reports. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Citigroup cut their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Benchmark decreased their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $189.88.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 1,781 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares in the company, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 425,064 shares of company stock worth $8,381,948. 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.