Capital Advisors Wealth Management LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Advisors Wealth Management LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 0.7% in the first quarter, HoldingsChannel.com reports. The firm owned 10,663 shares of the wireless technology company’s stock after selling 76 shares during the period. Capital Advisors Wealth Management LLC’s holdings in QUALCOMM were worth $1,805,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QCOM. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after acquiring an additional 483,390 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Morgan Stanley increased its holdings in shares of QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after acquiring an additional 438,660 shares in the last quarter. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $2,507,978,000. Finally, Putnam Investments LLC increased its holdings in shares of QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after acquiring an additional 263,482 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was 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 directly owns 54 shares in the company, valued at approximately $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,206,875 in the last three months. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley increased their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Robert W. Baird increased their price target on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Susquehanna increased their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Finally, Tigress Financial upped their price objective on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday. One investment 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. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $192.13.

Get Our Latest Research Report on QUALCOMM

QUALCOMM Price Performance

QCOM stock traded up $0.21 during midday trading on Tuesday, reaching $201.05. The stock had a trading volume of 2,680,242 shares, compared to its average volume of 9,208,962. The company’s fifty day simple moving average is $192.98 and its 200 day simple moving average is $167.91. 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 company has a market cap of $224.37 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its 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. 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 the consensus estimate of $9.32 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.69%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

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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