Sequoia Financial Advisors LLC Buys 4,687 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sequoia Financial Advisors LLC boosted its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,054 shares of the wireless technology company's stock after acquiring an additional 4,687 shares during the period. Sequoia Financial Advisors LLC's holdings in QUALCOMM were worth $17,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Teza Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at $1,541,000. Purkiss Capital Advisors LLC bought a new stake in QUALCOMM in the 4th quarter valued at $303,000. Amundi raised its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. First Foundation Advisors raised its stake in QUALCOMM by 41.2% in the 4th quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company's stock valued at $24,083,000 after acquiring an additional 45,769 shares during the period. Finally, Sound Income Strategies LLC raised its stake in QUALCOMM by 42.2% in the 1st quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company's stock valued at $162,000 after acquiring an additional 313 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $155.93 on Thursday. The stock's 50-day simple moving average is $148.57 and its 200 day simple moving average is $154.84. The firm has a market capitalization of $171.21 billion, a PE ratio of 15.88, a price-to-earnings-growth 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. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $211.09.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.28%. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Evercore ISI decreased their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. Bank of America decreased their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. Susquehanna decreased their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Finally, Loop Capital decreased their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $186.96.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. 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 currently owned by insiders.

QUALCOMM Company 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.

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