Wealthcare Advisory Partners LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealthcare Advisory Partners LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,006 shares of the wireless technology company's stock after selling 2,161 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in QUALCOMM were worth $2,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Octavia Wealth Advisors LLC lifted its position in QUALCOMM by 3.3% during the first quarter. Octavia Wealth Advisors LLC now owns 7,236 shares of the wireless technology company's stock valued at $1,111,000 after purchasing an additional 233 shares in the last quarter. Tounjian Advisory Partners LLC purchased a new position in shares of QUALCOMM during the 1st quarter valued at about $1,136,000. Pallas Capital Advisors LLC lifted its position in shares of QUALCOMM by 31.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 51,248 shares of the wireless technology company's stock valued at $7,872,000 after buying an additional 12,176 shares in the last quarter. WFA Asset Management Corp bought a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in QUALCOMM by 3.2% in the 1st quarter. Patrick M Sweeney & Associates Inc. now owns 3,326 shares of the wireless technology company's stock worth $511,000 after acquiring an additional 102 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 2.5%

QUALCOMM stock traded down $3.98 during midday trading on Friday, reaching $154.72. The stock had a trading volume of 8,444,486 shares, compared to its average volume of 8,742,171. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $169.88 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. The company has a fifty day moving average of $145.85 and a 200 day moving average of $155.15.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 earnings per share. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.30%. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of analyst reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Finally, Benchmark dropped their price target on QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and an average target price of $189.88.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company'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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock valued at $8,135,164 in the last ninety days. Corporate insiders own 0.08% of the company's stock.

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.