QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lessened by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,152 shares of the wireless technology company’s stock after selling 489 shares during the quarter. Insigneo Advisory Services LLC’s holdings in QUALCOMM were worth $1,099,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter worth approximately $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the fourth quarter worth approximately $29,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at $29,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.5%

Shares of NASDAQ QCOM opened at $154.46 on Wednesday. The business has a 50 day simple moving average of $146.71 and a 200 day simple moving average of $155.12. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The stock has a market cap of $169.60 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The company’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.30%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a research note on Tuesday, April 29th. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Robert W. Baird dropped their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research note on Thursday, May 1st. Finally, Benchmark decreased their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $190.28.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the sale, the chief financial officer now directly owns 49,779 shares of the company’s stock, valued at approximately $7,272,711.90. This represents a 6.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now directly owns 22,793 shares in the company, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock worth $8,135,164 over the last three months. Corporate insiders own 0.08% of the company’s stock.

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.