AMI Asset Management Corp Has $34.75 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

AMI Asset Management Corp lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 226,235 shares of the wireless technology company’s stock after selling 1,889 shares during the quarter. QUALCOMM accounts for about 2.0% of AMI Asset Management Corp’s investment portfolio, making the stock its 24th biggest holding. AMI Asset Management Corp’s holdings in QUALCOMM were worth $34,752,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter worth $26,000. WFA Asset Management Corp bought a new stake in QUALCOMM during the first quarter worth $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the fourth quarter worth $30,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the transaction, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 in the last quarter. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.1%

QCOM opened at $155.93 on Thursday. The firm has a market capitalization of $171.21 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company’s 50 day moving average price is $148.57 and its two-hundred day moving average price is $154.84.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the company earned $2.44 EPS. QUALCOMM’s quarterly revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 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 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is presently 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several research analyst reports. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Citigroup dropped their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $186.96.

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.