Unigestion Holding SA Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Unigestion Holding SA reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 54.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,795 shares of the wireless technology company’s stock after selling 42,378 shares during the quarter. Unigestion Holding SA’s holdings in QUALCOMM were worth $5,345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick bought a new position in QUALCOMM during the fourth quarter worth $207,000. LaFleur & Godfrey LLC lifted its stake in QUALCOMM by 10.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after purchasing an additional 300 shares during the last quarter. Brighton Jones LLC lifted its stake in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock worth $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in QUALCOMM during the fourth quarter worth $10,394,000. Finally, Revolve Wealth Partners LLC lifted its stake in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after purchasing an additional 340 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 425,064 shares of company stock worth $8,381,948 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 1.0%

Shares of QCOM opened at $146.63 on Tuesday. The business’s 50-day moving average price is $144.06 and its 200 day moving average price is $155.43. The stock has a market capitalization of $161.00 billion, a P/E ratio of 15.67, a P/E/G ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.43%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Robert W. Baird reduced their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna cut their target price on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Finally, Benchmark cut their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. One investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $189.88.

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.