First Bancorp Inc ME Sells 105 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

First Bancorp Inc ME reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,478 shares of the wireless technology company’s stock after selling 105 shares during the period. First Bancorp Inc ME’s holdings in QUALCOMM were worth $420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prentice Wealth Management LLC grew its holdings in shares of QUALCOMM by 6.7% in the first quarter. Prentice Wealth Management LLC now owns 1,807 shares of the wireless technology company’s stock worth $306,000 after purchasing an additional 113 shares during the last quarter. Exchange Bank purchased a new stake in QUALCOMM in the first quarter worth $221,000. Hoxton Planning & Management LLC lifted its position in QUALCOMM by 5.3% during the first quarter. Hoxton Planning & Management LLC now owns 3,678 shares of the wireless technology company’s stock valued at $623,000 after buying an additional 185 shares during the period. DLK Investment Management LLC lifted its position in QUALCOMM by 7.4% during the first quarter. DLK Investment Management LLC now owns 24,529 shares of the wireless technology company’s stock valued at $4,153,000 after buying an additional 1,691 shares during the period. Finally, New England Professional Planning Group Inc. purchased a new position in QUALCOMM during the first quarter valued at $220,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on QCOM shares. Morgan Stanley raised their price objective on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. KeyCorp raised their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. UBS Group raised their price objective on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company raised their price target on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Finally, Citigroup raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Buying and Selling at QUALCOMM

In related news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Down 2.4 %

Shares of NASDAQ QCOM traded down $4.94 during mid-day trading on Wednesday, reaching $197.23. 7,600,315 shares of the company were exchanged, compared to its average volume of 9,279,534. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market cap of $220.11 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.46 and a beta of 1.30. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a 50-day moving average of $193.66 and a 200 day moving average of $168.40.

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

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.72%. QUALCOMM’s dividend payout ratio (DPR) is 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.