Financial Engines Advisors L.L.C. Has $1.35 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Financial Engines Advisors L.L.C. reduced its stake in QUALCOMM by 24.7% during Q1, holding now 8,775 shares worth approximately $1.35 million.
• QUALCOMM announced a quarterly dividend of $0.89 per share, with the ex-dividend date set for Thursday, September 4th, representing an annualized yield of 2.4%.
• The company's latest earnings report showed a 10.4% increase in revenue year-over-year, with earnings per share of $2.77, surpassing analyst expectations.

Financial Engines Advisors L.L.C. trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 24.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,775 shares of the wireless technology company's stock after selling 2,872 shares during the quarter. Financial Engines Advisors L.L.C.'s holdings in QUALCOMM were worth $1,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. Brighton Jones LLC boosted its holdings in QUALCOMM by 116.6% during the fourth quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after purchasing an additional 9,343 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after purchasing an additional 340 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $999,000. SageView Advisory Group LLC boosted its holdings in QUALCOMM by 19.8% during the fourth quarter. SageView Advisory Group LLC now owns 3,311 shares of the wireless technology company's stock valued at $509,000 after purchasing an additional 548 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of QUALCOMM by 33.8% during the fourth quarter. CreativeOne Wealth LLC now owns 10,321 shares of the wireless technology company's stock worth $1,586,000 after buying an additional 2,607 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.3%

QUALCOMM stock opened at $147.97 on Tuesday. The company's 50 day simple moving average is $155.10 and its 200 day simple moving average is $153.89. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The firm has a market capitalization of $159.66 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 2.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the firm earned $2.33 EPS. QUALCOMM's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares in the company, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 424,099 shares of company stock worth $8,352,355. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Susquehanna dropped their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an "outperform" rating in a report on Monday, July 28th. UBS Group raised their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Benchmark reduced their target price 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. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and an average target price of $181.10.

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.

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