Castle Rock Wealth Management LLC Sells 1,963 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Castle Rock Wealth Management LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,367 shares of the wireless technology company's stock after selling 1,963 shares during the period. Castle Rock Wealth Management LLC's holdings in QUALCOMM were worth $1,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC grew its position in QUALCOMM by 38.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 23,404 shares of the wireless technology company's stock worth $3,595,000 after acquiring an additional 6,456 shares during the last quarter. St. Louis Financial Planners Asset Management LLC grew its position in QUALCOMM by 27.9% during the 1st quarter. St. Louis Financial Planners Asset Management LLC now owns 14,460 shares of the wireless technology company's stock worth $2,221,000 after acquiring an additional 3,153 shares during the last quarter. Welch Group LLC grew its position in QUALCOMM by 3.3% during the 1st quarter. Welch Group LLC now owns 362,799 shares of the wireless technology company's stock worth $55,407,000 after acquiring an additional 11,738 shares during the last quarter. Parallel Advisors LLC grew its position in QUALCOMM by 9.3% during the 1st quarter. Parallel Advisors LLC now owns 16,153 shares of the wireless technology company's stock worth $2,481,000 after acquiring an additional 1,374 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in QUALCOMM by 20,700.4% during the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the sale, the chief financial officer now owns 49,779 shares of the company's stock, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 425,064 shares of company stock worth $8,381,948. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research analyst reports. Benchmark decreased their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Susquehanna decreased their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" 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 issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Stock Up 0.4%

Shares of NASDAQ QCOM traded up $0.67 during mid-day trading on Wednesday, hitting $149.61. The company had a trading volume of 3,115,568 shares, compared to its average volume of 8,729,896. The company has a market capitalization of $164.27 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The firm has a 50-day simple moving average of $143.88 and a two-hundred day simple moving average of $155.39. 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 one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly 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 return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the company posted $2.44 earnings per share. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. 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 2.38%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

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.