NBT Bank N A NY Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

NBT Bank N A NY decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,097 shares of the wireless technology company’s stock after selling 466 shares during the quarter. NBT Bank N A NY’s holdings in QUALCOMM were worth $5,238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new position in shares of QUALCOMM during the 4th quarter worth about $207,000. LaFleur & Godfrey LLC boosted its holdings in QUALCOMM by 10.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock valued at $480,000 after purchasing an additional 300 shares during the last quarter. Brighton Jones LLC grew its position in QUALCOMM by 116.6% in the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock worth $2,666,000 after acquiring an additional 9,343 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of QUALCOMM during the 4th quarter worth $10,394,000. Finally, Revolve Wealth Partners LLC increased its position in shares of QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after acquiring an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 1.4%

Shares of QUALCOMM stock opened at $156.87 on Tuesday. The company has a 50-day moving average of $146.50 and a two-hundred day moving average of $155.12. The stock has a market cap of $172.24 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month 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 announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 earnings per share. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.27%. 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 dividend payout ratio is 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research analyst reports. Wall Street Zen downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. TD Cowen lowered their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a report on Friday, May 9th. Finally, Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” 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. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $189.88.

QUALCOMM Company 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.