B. Riley Wealth Advisors Inc. Has $5.96 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

B. Riley Wealth Advisors Inc. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,791 shares of the wireless technology company's stock after selling 6,191 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in QUALCOMM were worth $5,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter worth about $2,721,882,000. Amundi boosted its position in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new position in QUALCOMM in the fourth quarter valued at about $527,053,000. Northern Trust Corp grew its stake in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after buying an additional 1,424,106 shares in the last quarter. Institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Citigroup reduced their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Finally, Benchmark cut their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $192.08.

Insiders Place Their Bets

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 425,068 shares of company stock valued at $8,418,305. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of QCOM stock traded down $3.14 on Friday, hitting $145.20. 13,708,480 shares of the company's stock were exchanged, compared to its average volume of 8,824,693. The company has a 50 day moving average of $144.60 and a 200 day moving average of $155.74. The stock has a market cap of $159.43 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. 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 posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The business's revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.45%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

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.