Chapin Davis Inc. Has $298,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Chapin Davis Inc. decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,758 shares of the wireless technology company’s stock after selling 199 shares during the quarter. Chapin Davis Inc.’s holdings in QUALCOMM were worth $298,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of QCOM. Vanguard Group Inc. grew its holdings in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the last quarter. Morgan Stanley grew its holdings in shares of QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock worth $2,306,438,000 after purchasing an additional 438,660 shares during the last quarter. Norges Bank bought a new stake in shares of QUALCOMM during the fourth quarter worth about $2,507,978,000. Finally, Putnam Investments LLC grew its holdings in shares of QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock worth $917,051,000 after purchasing an additional 263,482 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,456,475 over the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on QCOM. Tigress Financial upped their target price on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a report on Friday, June 21st. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Canaccord Genuity Group increased their price target on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. UBS Group increased their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Piper Sandler upped their target price on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $200.03 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The business has a fifty day simple moving average of $195.82 and a two-hundred day simple moving average of $169.67. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The company has a market capitalization of $223.23 billion, a P/E ratio of 26.89, a P/E/G ratio of 2.42 and a beta of 1.27.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

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.