Alpha Omega Wealth Management LLC Has $2.17 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Alpha Omega Wealth Management LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,804 shares of the wireless technology company’s stock after selling 630 shares during the period. Alpha Omega Wealth Management LLC’s holdings in QUALCOMM were worth $2,168,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Grandview Asset Management LLC lifted its holdings in shares of QUALCOMM by 2.3% during the 1st quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock worth $462,000 after acquiring an additional 62 shares during the period. Tealwood Asset Management Inc. lifted its holdings in shares of QUALCOMM by 0.6% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock worth $1,676,000 after acquiring an additional 63 shares during the period. VERITY Wealth Advisors lifted its stake in QUALCOMM by 0.8% in the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock valued at $1,320,000 after purchasing an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC lifted its stake in QUALCOMM by 1.2% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after purchasing an additional 66 shares during the last quarter. Finally, Transform Wealth LLC lifted its stake in QUALCOMM by 2.3% in the 1st quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock valued at $494,000 after purchasing an additional 66 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Evercore ISI assumed coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Robert W. Baird increased their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. UBS Group upped their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, Benchmark restated a “buy” rating and issued a $200.00 price target on shares of QUALCOMM in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.13.

QUALCOMM Stock Up 2.1 %

Shares of NASDAQ QCOM opened at $199.18 on Friday. The firm has a market cap of $222.28 billion, a PE ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.30. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company’s fifty day simple moving average is $195.82 and its 200 day simple moving average is $169.45. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share 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 firm had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Insider Activity at QUALCOMM

In related news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.