QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Decreased by 180 Wealth Advisors LLC

180 Wealth Advisors LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 15,368 shares of the wireless technology company’s stock after selling 3,015 shares during the quarter. 180 Wealth Advisors LLC’s holdings in QUALCOMM were worth $2,602,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. CarsonAllaria Wealth Management Ltd. grew its position in shares of QUALCOMM by 327.1% during the 4th 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 during the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $32,000. Cherry Tree Wealth Management LLC grew its position in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the last quarter. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $35,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock traded up $4.35 on Friday, hitting $199.50. 5,740,938 shares of the company’s stock traded hands, compared to its average volume of 9,291,968. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market cap of $222.64 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 2.40 and a beta of 1.30. The stock has a fifty day moving average of $194.32 and a 200-day moving average of $168.60. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Mizuho boosted their target price on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Robert W. Baird boosted their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Bank of America boosted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Activity

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the company’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 value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other QUALCOMM news, 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 value of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sylvia Acevedo sold 2,056 shares of the company’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 completion of the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM 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.