Steward Partners Investment Advisory LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Steward Partners Investment Advisory LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 14.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,567 shares of the wireless technology company’s stock after selling 14,252 shares during the period. Steward Partners Investment Advisory LLC’s holdings in QUALCOMM were worth $11,797,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the fourth quarter worth $32,000. Cherry Tree Wealth Management LLC lifted its holdings in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares during the period. Finally, Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Neil Smit sold 3,069 shares of the company’s 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 sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,074 shares of company stock worth $12,258,386. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on QCOM shares. Barclays raised their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler raised their price objective on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Rosenblatt Securities lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Citigroup increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.48.

Check Out Our Latest Research Report on QUALCOMM

QUALCOMM Stock Performance

QCOM stock traded down $4.59 during midday trading on Wednesday, reaching $208.49. The company had a trading volume of 3,261,275 shares, compared to its average volume of 8,729,454. 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 50 day moving average price of $177.35 and a 200 day moving average price of $156.75. The firm has a market capitalization of $232.67 billion, a PE ratio of 28.25, a P/E/G ratio of 2.60 and a beta of 1.33. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $217.43.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS 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 the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Analysts anticipate that QUALCOMM Incorporated will post 7.83 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 43.01%.

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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