EP Wealth Advisors LLC Sells 2,280 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

EP Wealth Advisors LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,245 shares of the wireless technology company’s stock after selling 2,280 shares during the quarter. EP Wealth Advisors LLC’s holdings in QUALCOMM were worth $10,304,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Abel Hall LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $403,000. Counterweight Ventures LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $448,000. Syon Capital LLC increased its stake in QUALCOMM by 167.7% in the 4th quarter. Syon Capital LLC now owns 4,890 shares of the wireless technology company’s stock worth $707,000 after purchasing an additional 3,063 shares during the period. Centaurus Financial Inc. boosted its stake in shares of QUALCOMM by 5.1% during the fourth quarter. Centaurus Financial Inc. now owns 5,565 shares of the wireless technology company’s stock valued at $805,000 after purchasing an additional 271 shares during the period. Finally, Integrated Advisors Network LLC increased its position in shares of QUALCOMM by 125.1% in the fourth quarter. Integrated Advisors Network LLC now owns 44,575 shares of the wireless technology company’s stock valued at $6,447,000 after acquiring an additional 24,776 shares during the period. 74.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Neil Smit sold 3,069 shares of the company’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 transaction of $616,684.86. Following the sale, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction dated 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 owns 5,902 shares in the company, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock worth $8,206,875 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on QCOM shares. Mizuho upped their price target on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. TD Cowen lifted their target price on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. HSBC increased their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Barclays lifted their price target on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler upped their target price on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $188.74.

QUALCOMM Price Performance

NASDAQ QCOM traded down $2.48 during trading hours on Friday, reaching $215.33. The company’s stock had a trading volume of 6,438,225 shares, compared to its average volume of 9,812,994. The firm has a market capitalization of $240.31 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 2.62 and a beta of 1.30. The company’s 50-day moving average is $187.60 and its two-hundred day moving average is $163.97. 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 Incorporated has a 1-year low of $104.33 and a 1-year high of $218.36.

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 the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities analysts predict that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a yield of 1.58%. QUALCOMM’s payout ratio is presently 45.70%.

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.