Advisory Services Network LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Advisory Services Network LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,468 shares of the wireless technology company’s stock after selling 6,530 shares during the period. Advisory Services Network LLC’s holdings in QUALCOMM were worth $7,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Financial Gravity Asset Management Inc. boosted its stake in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. CarsonAllaria Wealth Management Ltd. grew its position in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC raised its stake in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $35,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 4.3 %

NASDAQ QCOM traded up $8.60 during trading on Friday, hitting $210.36. The company had a trading volume of 13,809,903 shares, compared to its average volume of 9,331,276. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $211.30. The company’s fifty day moving average is $175.50 and its 200-day moving average is $155.00. The company has a market cap of $234.76 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 2.49 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. On average, sell-side analysts predict that QUALCOMM Incorporated will post 7.83 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 43.01%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QCOM. Wolfe Research upped their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a report on Thursday, May 2nd. Mizuho increased their price target on shares of QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Rosenblatt Securities raised their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, KeyCorp raised their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $180.48.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,074 shares of company stock worth $12,258,386. 0.08% of the stock is 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.