QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 864,342 shares of the wireless technology company's stock after selling 46,942 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.08% of QUALCOMM worth $146,333,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in QUALCOMM by 0.4% in the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company's stock valued at $12,296,273,000 after acquiring an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Morgan Stanley boosted its holdings in QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company's stock worth $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter valued at about $2,507,978,000. Finally, Northern Trust Corp grew its holdings in QUALCOMM by 3.5% in the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company's stock valued at $1,365,092,000 after purchasing an additional 415,398 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Down 2.0 %

Shares of NASDAQ:QCOM traded down $3.35 during midday trading on Tuesday, reaching $165.85. 6,908,978 shares of the company's stock were exchanged, compared to its average volume of 8,481,063. The firm's 50 day simple moving average is $166.45 and its two-hundred day simple moving average is $145.75. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The stock has a market cap of $185.09 billion, a price-to-earnings ratio of 24.04, a P/E/G ratio of 2.27 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Thursday, May 30th. QUALCOMM's dividend payout ratio (DPR) is currently 46.38%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Citigroup downgraded shares of QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. StockNews.com raised shares of QUALCOMM from a "buy" rating to a "strong-buy" rating in a research note on Tuesday. Evercore ISI initiated coverage on QUALCOMM in a report on Tuesday, April 16th. They set an "in-line" rating and a $177.00 target price for the company. TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an "outperform" rating in a research report on Thursday, February 1st. Finally, Piper Sandler boosted their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of "Moderate Buy" and an average target price of $160.68.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company's stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company's stock, valued at $103,232.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

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.

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