QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Hemington Wealth Management

Hemington Wealth Management trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 47.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,468 shares of the wireless technology company’s stock after selling 2,239 shares during the quarter. Hemington Wealth Management’s holdings in QUALCOMM were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 9258 Wealth Management LLC boosted its holdings in QUALCOMM by 0.9% in the first quarter. 9258 Wealth Management LLC now owns 10,258 shares of the wireless technology company’s stock valued at $1,737,000 after purchasing an additional 91 shares in the last quarter. Gould Asset Management LLC CA purchased a new stake in QUALCOMM in the first quarter valued at approximately $226,000. WBI Investments LLC lifted its stake in QUALCOMM by 50.3% in the first quarter. WBI Investments LLC now owns 13,111 shares of the wireless technology company’s stock valued at $2,220,000 after buying an additional 4,387 shares during the last quarter. Team Hewins LLC lifted its stake in QUALCOMM by 2.2% in the first quarter. Team Hewins LLC now owns 7,761 shares of the wireless technology company’s stock valued at $1,314,000 after buying an additional 167 shares during the last quarter. Finally, Affinity Investment Advisors LLC lifted its stake in QUALCOMM by 4.2% in the first quarter. Affinity Investment Advisors LLC now owns 9,997 shares of the wireless technology company’s stock valued at $1,692,000 after buying an additional 400 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of QCOM stock traded down $8.95 during mid-day trading on Thursday, reaching $199.85. The stock had a trading volume of 8,572,221 shares, compared to its average volume of 9,179,811. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a market cap of $223.03 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 2.53 and a beta of 1.27. The business has a 50-day simple moving average of $202.30 and a 200 day simple moving average of $172.96. 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 announced its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current 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 given a $0.85 dividend. The ex-dividend date was Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.70%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on QCOM. Robert W. Baird boosted their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Mizuho boosted their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Canaccord Genuity Group boosted their price objective on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. TD Cowen boosted their price objective on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, Piper Sandler boosted 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $192.96.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the sale, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Company 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.