Aviance Capital Partners LLC Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Aviance Capital Partners LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 9,898 shares of the wireless technology company’s stock after selling 236 shares during the period. Aviance Capital Partners LLC’s holdings in QUALCOMM were worth $1,431,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. raised its position in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after acquiring an additional 2,659,323 shares during the period. Barclays PLC boosted its stake in shares of QUALCOMM by 53.6% during the 3rd quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock worth $586,760,000 after acquiring an additional 1,842,868 shares during the last quarter. Invesco Ltd. grew its position in shares of QUALCOMM by 15.7% during the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after acquiring an additional 1,253,173 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of QUALCOMM by 48.8% in the 4th quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after purchasing an additional 1,090,504 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 46,316 shares of company stock valued at $7,796,128 in the last ninety days. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $2.21 during mid-day trading on Monday, hitting $181.85. 6,976,661 shares of the company’s stock traded hands, compared to its average volume of 8,731,813. 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 1 year low of $101.47 and a 1 year high of $183.19. The company’s 50-day moving average is $168.19 and its two-hundred day moving average is $147.58. The company has a market capitalization of $202.94 billion, a P/E ratio of 24.44, a PEG ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.87%. QUALCOMM’s dividend payout ratio is 43.01%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QCOM. Morgan Stanley lifted their target price on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday. Bank of America boosted their price objective on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 30th. Finally, HSBC increased their price objective on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

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.