Strategic Wealth Partners Ltd. Sells 686 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Wealth Partners Ltd. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,453 shares of the wireless technology company’s stock after selling 686 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in QUALCOMM were worth $415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $2,507,978,000. Matrix Capital Management Company LP acquired a new position in QUALCOMM in the first quarter valued at approximately $1,171,516,000. International Assets Investment Management LLC lifted its holdings in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in QUALCOMM by 8.1% in the fourth 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 buying an additional 1,909,025 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock traded down $4.69 during midday trading on Friday, hitting $159.31. The company’s stock had a trading volume of 16,608,006 shares, compared to its average volume of 9,430,546. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a 50-day moving average price of $201.93 and a two-hundred day moving average price of $177.92. The company has a market cap of $177.79 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 2.20 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.32% and a return on equity of 38.80%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.84 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the sale, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the transaction, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total transaction of $542,070.00. Following the transaction, the chief financial officer now owns 66,343 shares in the company, valued at approximately $11,987,516.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,129 shares of company stock valued at $6,730,436. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on QCOM shares. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a report on Tuesday. Bank of America increased their price objective on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. JPMorgan Chase & Co. increased their target price on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Wolfe Research increased their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, UBS Group increased their price objective on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $210.63.

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.