Successful Portfolios LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Successful Portfolios LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,227 shares of the wireless technology company’s stock after selling 171 shares during the quarter. Successful Portfolios LLC’s holdings in QUALCOMM were worth $208,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Grandview Asset Management LLC lifted its stake in shares of QUALCOMM by 2.3% during the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after purchasing an additional 62 shares in the last quarter. Tealwood Asset Management Inc. lifted its stake in shares of QUALCOMM by 0.6% in the first quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after acquiring an additional 63 shares in the last quarter. VERITY Wealth Advisors lifted its stake in shares of QUALCOMM by 0.8% in the first quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after acquiring an additional 64 shares in the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in shares of QUALCOMM by 1.2% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after acquiring an additional 66 shares in the last quarter. Finally, Transform Wealth LLC lifted its stake in shares of QUALCOMM by 2.3% in the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after acquiring an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the sale, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock worth $8,456,475 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on QCOM shares. Robert W. Baird boosted their price target on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. UBS Group boosted their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Susquehanna boosted their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $200.03 on Tuesday. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The firm has a market capitalization of $223.23 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. The business has a 50 day simple moving average of $195.82 and a 200 day simple moving average of $169.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.70%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is 45.70%.

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.