Richelieu Gestion SA Sells 5,766 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Richelieu Gestion SA cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 31.1% in the first quarter, Holdings Channel reports. The fund owned 12,791 shares of the wireless technology company’s stock after selling 5,766 shares during the quarter. QUALCOMM accounts for approximately 2.2% of Richelieu Gestion SA’s portfolio, making the stock its 24th largest position. Richelieu Gestion SA’s holdings in QUALCOMM were worth $2,166,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Peoples Bank OH acquired a new position in QUALCOMM in the 4th quarter worth approximately $219,000. Bank Hapoalim BM increased its holdings in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after buying an additional 9,192 shares during the period. NewEdge Wealth LLC increased its holdings in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares during the period. 1834 Investment Advisors Co. increased its holdings in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after buying an additional 2,818 shares during the period. Finally, Alexander Randolph Advisory Inc. acquired a new position in QUALCOMM in the 4th quarter worth approximately $305,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 3.1 %

NASDAQ:QCOM traded down $6.24 during mid-day trading on Wednesday, reaching $195.93. The company’s stock had a trading volume of 6,238,268 shares, compared to its average volume of 9,268,370. The company’s fifty day simple moving average is $193.66 and its two-hundred day simple moving average is $168.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The stock has a market cap of $218.66 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.46 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities analysts predict that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Barclays upped their price objective on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company increased their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last three months. 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.