Advisory Alpha LLC Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Advisory Alpha LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 56.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,899 shares of the wireless technology company's stock after selling 2,429 shares during the period. Advisory Alpha LLC's holdings in QUALCOMM were worth $292,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $29,000. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. reissued an "overweight" rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Wells Fargo & Company cut their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Loop Capital cut their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and an average target price of $189.88.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $3.12 during trading hours on Friday, hitting $145.22. The company's stock had a trading volume of 13,752,285 shares, compared to its average volume of 8,785,850. The company has a 50 day moving average of $144.30 and a 200 day moving average of $155.59. The stock has a market cap of $159.45 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is 36.25%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,068 shares of company stock valued at $8,418,305. Corporate insiders own 0.08% of the company's stock.

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.