QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 34.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,141 shares of the wireless technology company's stock after selling 19,099 shares during the quarter. Kingsview Wealth Management LLC's holdings in QUALCOMM were worth $5,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the last quarter. Geode Capital Management LLC increased its position in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Northern Trust Corp raised its position in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in QUALCOMM by 17.0% in the 4th 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 acquiring an additional 1,424,106 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Susquehanna reduced 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. Bank of America dropped their price target on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reissued a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $186.00.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 424,099 shares of company stock valued at $8,310,735. Company insiders own 0.08% of the company's stock.

QUALCOMM Trading Up 1.4%

Shares of QUALCOMM stock traded up $2.19 during trading on Friday, hitting $154.80. The stock had a trading volume of 7,429,971 shares, compared to its average volume of 8,482,913. The firm's fifty day simple moving average is $153.76 and its 200-day simple moving average is $154.96. The stock has a market cap of $169.97 billion, a PE ratio of 15.76, a PEG ratio of 1.97 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $196.24.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the business posted $2.44 EPS. The firm's revenue for the quarter was up 17.0% on a year-over-year basis. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is 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.