Dumont & Blake Investment Advisors LLC Sells 1,688 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Dumont & Blake Investment Advisors LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 22.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,841 shares of the wireless technology company’s stock after selling 1,688 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in QUALCOMM were worth $989,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in QCOM. Algert Global LLC purchased a new stake in QUALCOMM in the 3rd quarter worth about $545,000. Rehmann Capital Advisory Group raised its position in shares of QUALCOMM by 3.6% in the third quarter. Rehmann Capital Advisory Group now owns 10,312 shares of the wireless technology company’s stock valued at $1,145,000 after purchasing an additional 361 shares during the period. United Services Automobile Association lifted its stake in shares of QUALCOMM by 2.2% during the 3rd quarter. United Services Automobile Association now owns 171,656 shares of the wireless technology company’s stock valued at $19,064,000 after buying an additional 3,668 shares in the last quarter. First Business Financial Services Inc. grew its stake in QUALCOMM by 1.3% in the 3rd quarter. First Business Financial Services Inc. now owns 9,052 shares of the wireless technology company’s stock valued at $1,005,000 after buying an additional 114 shares in the last quarter. Finally, Per Stirling Capital Management LLC. grew its stake in QUALCOMM by 2.8% in the 3rd quarter. Per Stirling Capital Management LLC. now owns 5,651 shares of the wireless technology company’s stock valued at $628,000 after buying an additional 155 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Morgan Stanley raised their price target on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Tigress Financial boosted their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.13.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded up $4.03 during trading hours on Friday, reaching $199.18. 15,547,484 shares of the stock traded hands, compared to its average volume of 11,272,695. The company has a market capitalization of $222.28 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 2.42 and a beta of 1.30. The company’s 50-day simple moving average is $195.82 and its two-hundred 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 Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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. Equities research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared 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 represents a $3.40 annualized dividend and a yield of 1.71%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

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.