Fiduciary Alliance LLC Sells 265 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fiduciary Alliance LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,350 shares of the wireless technology company’s stock after selling 265 shares during the quarter. Fiduciary Alliance LLC’s holdings in QUALCOMM were worth $232,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of QCOM. Norges Bank acquired a new position in shares of QUALCOMM during the fourth quarter valued at about $2,507,978,000. International Assets Investment Management LLC raised its position 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 worth $434,780,000 after acquiring an additional 2,983,206 shares during the period. Pacer Advisors Inc. raised its position in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after acquiring an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the period. Finally, Global Assets Advisory LLC bought a new stake in QUALCOMM in the first quarter worth about $238,770,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on QCOM. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Argus increased their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. Piper Sandler increased their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was 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 directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold 37,185 shares of company stock worth $6,860,715 over the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $199.18 on Monday. 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 $230.63. The company has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.42 and a beta of 1.27. The firm’s 50 day simple moving average is $195.82 and its two-hundred day simple moving average is $169.67.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping 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 firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. Research analysts expect that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

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

QUALCOMM Company 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.