Sonora Investment Management Group LLC Sells 2,745 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sonora Investment Management Group LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,959 shares of the wireless technology company’s stock after selling 2,745 shares during the quarter. QUALCOMM makes up about 1.9% of Sonora Investment Management Group LLC’s investment portfolio, making the stock its 10th largest holding. Sonora Investment Management Group LLC’s holdings in QUALCOMM were worth $24,111,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter valued at about $26,000. WFA Asset Management Corp acquired a new stake in QUALCOMM during the 1st quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth $29,000. Finally, Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the 4th quarter worth about $29,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research reports. TD Cowen lowered their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $189.88.

QUALCOMM Price Performance

QUALCOMM stock opened at $155.41 on Tuesday. The company has a market capitalization of $170.64 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 2.01 and a beta of 1.26. 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 Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The stock’s 50 day moving average is $143.64 and its 200-day moving average is $155.11.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 transaction, the insider now directly owns 24,393 shares in the company, valued at $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. Insiders have sold a total of 425,064 shares of company stock worth $8,381,948 in the last 90 days. Company insiders own 0.08% of the company’s stock.

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.