First Mercantile Trust Co. Sells 11,197 Shares of QUALCOMM, Inc. (QCOM)

First Mercantile Trust Co. lowered its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 51.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,762 shares of the wireless technology company’s stock after selling 11,197 shares during the quarter. First Mercantile Trust Co.’s holdings in QUALCOMM were worth $614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Lavaca Capital LLC purchased a new position in QUALCOMM in the fourth quarter valued at $25,000. Field & Main Bank purchased a new position in QUALCOMM in the first quarter valued at $32,000. Baldwin Brothers Inc. MA purchased a new position in QUALCOMM in the first quarter valued at $34,000. Transamerica Financial Advisors Inc. increased its holdings in QUALCOMM by 688.5% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after buying an additional 537 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at $36,000. 82.04% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Clark T. Jr. Randt sold 2,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $89.58, for a total transaction of $179,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Cristiano R. Amon sold 13,466 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $60.00, for a total transaction of $807,960.00. Following the sale, the president now owns 37,614 shares of the company’s stock, valued at approximately $2,256,840. The disclosure for this sale can be found here. Insiders have sold 949,832 shares of company stock valued at $37,443,538 in the last quarter. Insiders own 0.11% of the company’s stock.

QCOM has been the topic of several recent analyst reports. BidaskClub lowered QUALCOMM from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Cowen reissued an “outperform” rating and issued a $70.00 target price (down previously from $73.00) on shares of QUALCOMM in a report on Thursday, January 31st. Mizuho dropped their target price on QUALCOMM from $66.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, January 31st. Susquehanna Bancshares reissued a “positive” rating and issued a $65.00 target price (down previously from $75.00) on shares of QUALCOMM in a report on Thursday, January 31st. Finally, Bank of America reissued a “neutral” rating and issued a $60.00 target price (down previously from $67.00) on shares of QUALCOMM in a report on Thursday, January 31st. Eight equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. QUALCOMM has an average rating of “Buy” and a consensus price target of $83.09.

Shares of QCOM stock opened at $77.75 on Wednesday. The stock has a market cap of $99.08 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 1.79 and a beta of 1.45. QUALCOMM, Inc. has a 1 year low of $49.10 and a 1 year high of $90.34. The company has a debt-to-equity ratio of 3.98, a quick ratio of 1.39 and a current ratio of 1.55.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.07. QUALCOMM had a return on equity of 56.69% and a net margin of 11.57%. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the company posted $0.80 earnings per share. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Analysts predict that QUALCOMM, Inc. will post 3.32 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $2.48 annualized dividend and a dividend yield of 3.19%. QUALCOMM’s dividend payout ratio (DPR) is 77.74%.

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About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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