QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Spire Wealth Management

Spire Wealth Management decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 63.3% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 16,601 shares of the wireless technology company's stock after selling 28,613 shares during the period. Spire Wealth Management's holdings in QUALCOMM were worth $2,550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. LaFleur & Godfrey LLC boosted its position in shares of QUALCOMM by 10.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company's stock worth $480,000 after acquiring an additional 300 shares during the last quarter. Brighton Jones LLC boosted its holdings in shares of QUALCOMM by 116.6% in the 4th 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 during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after buying an additional 340 shares during the period. BankPlus Trust Department purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $47,000. Finally, Delta Financial Advisors LLC increased its holdings in shares of QUALCOMM by 8.8% during the 4th quarter. Delta Financial Advisors LLC now owns 3,506 shares of the wireless technology company's stock worth $539,000 after buying an additional 285 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 completion of the transaction, the insider now owns 22,793 shares of the company's stock, valued at $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. The trade was 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 over the last quarter. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Up 1.4%

Shares of QUALCOMM stock traded up $2.26 during trading hours on Thursday, hitting $158.19. 6,272,334 shares of the company's stock traded hands, compared to its average volume of 8,514,955. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09. The company has a market cap of $173.69 billion, a PE ratio of 16.11, a PEG ratio of 2.01 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $148.57 and a 200-day simple moving average of $154.84.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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 return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same quarter last year, the firm earned $2.44 EPS. QUALCOMM's quarterly revenue was up 17.0% on a year-over-year basis. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

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

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup dropped their target price on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.