QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Astoria Portfolio Advisors LLC.

Astoria Portfolio Advisors LLC. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,643 shares of the wireless technology company’s stock after selling 71 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in QUALCOMM were worth $958,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. increased its position in 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 in the last quarter. CarsonAllaria Wealth Management Ltd. increased its holdings 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 purchasing an additional 157 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $32,000. Cherry Tree Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 115 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $35,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was 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 $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Sylvia Acevedo sold 744 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the sale, the director now owns 54 shares of the company’s stock, valued at $9,802.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Neil Smit sold 3,069 shares of the 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 completion of the sale, the director now directly 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. Insiders have sold a total of 45,185 shares of company stock worth $8,206,875 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $199.18 on Friday. The company has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.37 and a beta of 1.30. The business’s 50 day moving average is $195.82 and its two-hundred day moving average is $169.22. 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 Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion for 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 expect that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Barclays increased their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. KeyCorp increased their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, TD Cowen increased their price objective on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $192.13.

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.