Abbrea Capital LLC Sells 396 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Abbrea Capital LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,542 shares of the wireless technology company’s stock after selling 396 shares during the quarter. Abbrea Capital LLC’s holdings in QUALCOMM were worth $3,405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its holdings in shares of QUALCOMM by 1.7% during the third quarter. Avior Wealth Management LLC now owns 11,458 shares of the wireless technology company’s stock worth $1,273,000 after purchasing an additional 186 shares during the period. Founders Financial Securities LLC bought a new position in shares of QUALCOMM during the third quarter valued at approximately $327,000. GHP Investment Advisors Inc. increased its position in shares of QUALCOMM by 101.4% during the third quarter. GHP Investment Advisors Inc. now owns 741 shares of the wireless technology company’s stock valued at $81,000 after acquiring an additional 373 shares in the last quarter. Meridian Wealth Management LLC increased its position in shares of QUALCOMM by 92.5% during the third quarter. Meridian Wealth Management LLC now owns 16,394 shares of the wireless technology company’s stock valued at $1,823,000 after acquiring an additional 7,878 shares in the last quarter. Finally, Garrison Bradford & Associates Inc. boosted its holdings in QUALCOMM by 26.5% in the third quarter. Garrison Bradford & Associates Inc. now owns 19,274 shares of the wireless technology company’s stock worth $2,141,000 after purchasing an additional 4,035 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QCOM. Cantor Fitzgerald lifted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. Mizuho lifted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Benchmark assumed coverage on shares of QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 price objective for the company. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $2.36 during mid-day trading on Friday, reaching $165.66. 7,122,503 shares of the stock were exchanged, compared to its average volume of 8,523,420. The business’s 50 day moving average is $165.58 and its 200-day moving average is $144.10. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a market capitalization of $184.88 billion, a P/E ratio of 23.98, a P/E/G ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. Insiders own 0.08% of the company’s stock.

QUALCOMM Company Profile

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.