QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by US Asset Management LLC

US Asset Management LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,971 shares of the wireless technology company’s stock after selling 64 shares during the period. US Asset Management LLC’s holdings in QUALCOMM were worth $503,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. VERITY Wealth Advisors increased its holdings in shares of QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after acquiring an additional 64 shares during the period. Cassaday & Co Wealth Management LLC increased its holdings in shares of QUALCOMM by 1.2% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after acquiring an additional 66 shares during the period. Glass Jacobson Investment Advisors llc increased its holdings in shares of QUALCOMM by 6.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after acquiring an additional 68 shares during the period. Chilton Capital Management LLC increased its holdings in shares of QUALCOMM by 1.9% in the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the period. Finally, Means Investment CO. Inc. increased its holdings in shares of QUALCOMM by 1.2% in the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

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

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent analyst reports. HSBC increased their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Susquehanna increased their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. Finally, TD Cowen increased their target price on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $188.74.

QUALCOMM Trading Down 5.1 %

Shares of QCOM traded down $11.62 during midday trading on Thursday, hitting $215.47. The stock had a trading volume of 18,683,964 shares, compared to its average volume of 9,098,278. The business has a 50-day simple moving average of $191.54 and a two-hundred day simple moving average of $166.34. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm has a market cap of $240.46 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 2.77 and a beta of 1.30. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.58%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio 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.