Commonwealth Equity Services LLC Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Commonwealth Equity Services LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 604,814 shares of the wireless technology company's stock after selling 8,479 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.05% of QUALCOMM worth $87,474,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Simon Quick Advisors LLC lifted its position in QUALCOMM by 10.6% during the third quarter. Simon Quick Advisors LLC now owns 2,776 shares of the wireless technology company's stock valued at $308,000 after buying an additional 265 shares in the last quarter. Legacy Financial Group LLC acquired a new stake in QUALCOMM in the third quarter valued at $29,000. NorthRock Partners LLC raised its holdings in QUALCOMM by 12.5% in the third quarter. NorthRock Partners LLC now owns 4,418 shares of the wireless technology company's stock valued at $491,000 after acquiring an additional 490 shares in the last quarter. Horst & Graben Wealth Management LLC raised its holdings in QUALCOMM by 50.7% in the third quarter. Horst & Graben Wealth Management LLC now owns 2,812 shares of the wireless technology company's stock valued at $312,000 after acquiring an additional 946 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its holdings in QUALCOMM by 1.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 543,300 shares of the wireless technology company's stock valued at $60,339,000 after acquiring an additional 9,200 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $0.46 on Friday, reaching $179.64. 10,041,403 shares of the company traded hands, compared to its average volume of 8,755,839. The company's 50 day moving average is $167.20 and its 200-day moving average is $146.11. The stock has a market capitalization of $200.48 billion, a PE ratio of 26.03, a P/E/G ratio of 2.25 and a beta of 1.33. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $183.19. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.24% and a net margin of 23.03%. The business had revenue of $9.94 billion during the quarter, compared to analysts' expectations of $9.50 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. This is an increase from QUALCOMM's previous quarterly dividend of $0.80. QUALCOMM's payout ratio is currently 49.28%.

Wall Street Analyst Weigh In

QCOM has been the subject of several research reports. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a "buy" rating in a report on Thursday. Wells Fargo & Company increased their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an "underweight" rating in a research report on Thursday. Mizuho increased their price target on QUALCOMM from $160.00 to $180.00 and gave the stock a "buy" rating in a research report on Thursday. Morgan Stanley increased their price target on QUALCOMM from $158.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Thursday. Finally, KeyCorp increased their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $179.36.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company's stock, valued at $12,030,317.07. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the chief accounting officer now owns 689 shares of the company's stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock valued at $7,429,728 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

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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