QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Jeppson Wealth Management LLC

Jeppson Wealth Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,172 shares of the wireless technology company’s stock after selling 143 shares during the quarter. QUALCOMM makes up about 1.0% of Jeppson Wealth Management LLC’s portfolio, making the stock its 21st biggest holding. Jeppson Wealth Management LLC’s holdings in QUALCOMM were worth $2,569,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Grandview Asset Management LLC raised its holdings in shares of QUALCOMM by 2.3% in the first 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 last quarter. Tealwood Asset Management Inc. raised its stake in QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after purchasing an additional 63 shares during the last quarter. VERITY Wealth Advisors lifted its holdings 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 in the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in shares of QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock worth $831,000 after purchasing an additional 66 shares during the last quarter. Finally, Transform Wealth LLC grew its holdings in shares of QUALCOMM by 2.3% during the first quarter. Transform Wealth LLC now owns 2,916 shares of the wireless technology company’s stock worth $494,000 after buying an additional 66 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now directly owns 8,100 shares in the company, valued at $1,466,100. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the sale, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 in the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday, May 2nd. TD Cowen upped their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Susquehanna raised their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Finally, Bank of America upped their price objective on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $192.13.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $4.03 on Friday, reaching $199.18. 15,547,484 shares of the company’s stock were exchanged, compared to its average volume of 11,272,695. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The business’s 50-day moving average is $195.82 and its two-hundred day 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. The firm has a market capitalization of $222.28 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

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

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.