Stratos Wealth Partners LTD. Sells 3,345 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Stratos Wealth Partners LTD. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 117,921 shares of the wireless technology company's stock after selling 3,345 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in QUALCOMM were worth $18,114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Norges Bank bought a new position in shares of QUALCOMM during the 4th quarter worth $2,721,882,000. GAMMA Investing LLC raised its holdings in shares of QUALCOMM by 20,700.4% in the 1st quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company's stock valued at $501,192,000 after acquiring an additional 3,247,068 shares in the last quarter. Northern Trust Corp raised its holdings in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after acquiring an additional 1,424,106 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $204,085,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was 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 owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company'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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 424,747 shares of company stock valued at $8,402,174. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on QCOM. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Citigroup lifted their price target on QUALCOMM from $145.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, Evercore ISI dropped their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $188.00.

QUALCOMM Stock Down 2.5%

QUALCOMM stock opened at $158.09 on Tuesday. The stock has a market cap of $173.58 billion, a PE ratio of 16.10, a price-to-earnings-growth ratio of 2.09 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $211.09. The stock has a fifty day moving average of $151.53 and a 200 day moving average of $155.01.

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

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is currently 36.25%.

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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