QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Lowered by IFP Advisors Inc

IFP Advisors Inc reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 23.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,079 shares of the wireless technology company's stock after selling 4,806 shares during the period. IFP Advisors Inc's holdings in QUALCOMM were worth $2,471,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. OneAscent Financial Services LLC grew its holdings in QUALCOMM by 149.1% during the 1st quarter. OneAscent Financial Services LLC now owns 11,152 shares of the wireless technology company's stock worth $1,710,000 after acquiring an additional 6,675 shares during the period. Elyxium Wealth LLC grew its holdings in QUALCOMM by 17.1% during the 1st quarter. Elyxium Wealth LLC now owns 3,484 shares of the wireless technology company's stock worth $535,000 after acquiring an additional 509 shares during the period. OneAscent Family Office LLC grew its holdings in QUALCOMM by 121.8% during the 1st quarter. OneAscent Family Office LLC now owns 5,538 shares of the wireless technology company's stock worth $850,000 after acquiring an additional 3,041 shares during the period. Berkeley Capital Partners LLC grew its holdings in QUALCOMM by 1.8% in the first quarter. Berkeley Capital Partners LLC now owns 10,788 shares of the wireless technology company's stock worth $1,657,000 after purchasing an additional 192 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in QUALCOMM by 1.6% in the first quarter. Kestra Private Wealth Services LLC now owns 144,109 shares of the wireless technology company's stock valued at $22,137,000 after purchasing an additional 2,264 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Susquehanna dropped their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. UBS Group raised their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Wells Fargo & Company lowered their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $184.86.

QUALCOMM Stock Down 0.3%

QCOM stock traded down $0.51 during trading on Friday, hitting $158.34. 1,146,310 shares of the company's stock were exchanged, compared to its average volume of 8,314,148. The business has a 50-day moving average price of $154.48 and a two-hundred day moving average price of $155.04. The stock has a market capitalization of $173.85 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 2.06 and a beta of 1.26. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.64. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The business 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 company's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company 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 $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

About QUALCOMM

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.