Robertson Stephens Wealth Management LLC Has $2.48 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Robertson Stephens Wealth Management LLC reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 16,113 shares of the wireless technology company's stock after selling 3,925 shares during the period. Robertson Stephens Wealth Management LLC's holdings in QUALCOMM were worth $2,475,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Teza Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $1,541,000. Purkiss Capital Advisors LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $303,000. Amundi lifted its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. First Foundation Advisors boosted its position in QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock worth $24,083,000 after purchasing an additional 45,769 shares during the period. Finally, Sound Income Strategies LLC increased its holdings in shares of QUALCOMM by 42.2% in the first quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock valued at $162,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $154.46 on Wednesday. The firm has a 50 day moving average of $146.71 and a 200-day moving average of $155.12. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. 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 stock has a market capitalization of $169.60 billion, a PE ratio of 15.73, a PEG ratio of 1.75 and a beta of 1.26.

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 (EPS) 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 business had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same period last year, the firm posted $2.44 earnings per share. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. 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. QUALCOMM's payout ratio is 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at approximately $7,272,711.90. The trade was a 6.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Benchmark cut their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Susquehanna decreased their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $190.28.

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.

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