Integrated Advisors Network LLC Sells 3,334 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Integrated Advisors Network LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,467 shares of the wireless technology company's stock after selling 3,334 shares during the period. Integrated Advisors Network LLC's holdings in QUALCOMM were worth $2,376,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Eagle Strategies LLC grew its position in QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. grew its holdings in shares of QUALCOMM by 3.6% during the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the last quarter. TBH Global Asset Management LLC increased its stake in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares in the last quarter. PDS Planning Inc raised its holdings in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after buying an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its position in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Finally, TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $189.88.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $3.98 during trading on Friday, reaching $154.72. 8,444,486 shares of the company's stock were exchanged, compared to its average volume of 8,742,171. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The company has a market cap of $169.88 billion, a P/E ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26. The firm's 50-day moving average price is $145.85 and its 200 day moving average price is $155.15.

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. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is presently 36.25%.

Insider Buying and Selling

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This trade represents a 0.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock worth $8,135,164 in the last 90 days. Insiders own 0.08% of the company's stock.

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.