QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Pure Financial Advisors LLC

Pure Financial Advisors LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,057 shares of the wireless technology company's stock after selling 4,243 shares during the period. Pure Financial Advisors LLC's holdings in QUALCOMM were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. SOL Capital Management CO lifted its holdings in shares of QUALCOMM by 5.4% in the 1st quarter. SOL Capital Management CO now owns 15,110 shares of the wireless technology company's stock valued at $2,321,000 after buying an additional 780 shares during the period. Omnia Family Wealth LLC lifted its holdings in QUALCOMM by 24.4% in the first quarter. Omnia Family Wealth LLC now owns 2,742 shares of the wireless technology company's stock valued at $421,000 after acquiring an additional 538 shares during the period. Alpine Bank Wealth Management purchased a new stake in shares of QUALCOMM during the 1st quarter worth $149,000. Pinnacle Bancorp Inc. boosted its position in shares of QUALCOMM by 3.3% during the 1st quarter. Pinnacle Bancorp Inc. now owns 3,136 shares of the wireless technology company's stock worth $482,000 after purchasing an additional 100 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its stake in shares of QUALCOMM by 189.4% during the 1st quarter. Golden State Wealth Management LLC now owns 10,336 shares of the wireless technology company's stock worth $1,588,000 after purchasing an additional 6,764 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 1.4%

Shares of QUALCOMM stock traded up $2.26 during trading hours on Thursday, reaching $158.19. 6,272,334 shares of the company's stock were exchanged, compared to its average volume of 8,514,955. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The company has a fifty day moving average of $148.57 and a 200-day moving average of $154.84. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $173.69 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.25%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Activity at QUALCOMM

In other QUALCOMM 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the transaction, the chief financial officer now owns 49,779 shares in the company, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. Robert W. Baird reduced their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. TD Cowen lowered their price target on QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Finally, Citigroup decreased their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of "Hold" and a consensus price target of $186.96.

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.