Continuum Advisory LLC Sells 500 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Continuum Advisory LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,948 shares of the wireless technology company’s stock after selling 500 shares during the period. Continuum Advisory LLC’s holdings in QUALCOMM were worth $453,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the 4th quarter valued at about $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter valued at about $27,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the 4th quarter valued at about $30,000. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total value of $486,951.30. Following the transaction, the chief financial officer now owns 49,779 shares in the company, valued at $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the insider now owns 22,793 shares in the company, valued at approximately $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 quarter. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on QCOM. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup dropped their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Hold” and an average price target of $186.96.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $153.14 on Tuesday. The company has a market capitalization of $168.15 billion, a P/E ratio of 15.59, a P/E/G ratio of 1.95 and a beta of 1.26. The business’s 50 day moving average is $147.82 and its two-hundred day moving average is $154.83. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.44 earnings per share. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

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.