Avior Wealth Management LLC Grows Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Avior Wealth Management LLC increased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 20.9% in the 1st quarter, HoldingsChannel reports. The fund owned 14,350 shares of the wireless technology company’s stock after acquiring an additional 2,482 shares during the period. Avior Wealth Management LLC’s holdings in QUALCOMM were worth $2,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mission Wealth Management LP lifted its stake in QUALCOMM by 15.2% in the first quarter. Mission Wealth Management LP now owns 19,149 shares of the wireless technology company’s stock worth $3,242,000 after purchasing an additional 2,527 shares during the last quarter. Lineweaver Wealth Advisors LLC lifted its stake in QUALCOMM by 5.8% in the first quarter. Lineweaver Wealth Advisors LLC now owns 8,188 shares of the wireless technology company’s stock worth $1,388,000 after purchasing an additional 449 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in QUALCOMM in the first quarter worth about $5,107,000. Hartline Investment Corp bought a new stake in QUALCOMM in the first quarter worth about $611,000. Finally, North Star Investment Management Corp. lifted its stake in QUALCOMM by 0.9% in the first quarter. North Star Investment Management Corp. now owns 41,578 shares of the wireless technology company’s stock worth $7,039,000 after purchasing an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,802.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at $1,466,100. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sylvia Acevedo sold 744 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. Insiders have sold 42,185 shares of company stock valued at $7,936,005 over the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 1.0 %

NASDAQ QCOM traded up $1.94 on Friday, hitting $205.75. The stock had a trading volume of 6,375,172 shares, compared to its average volume of 10,254,710. The business’s fifty day moving average price is $199.81 and its 200 day moving average price is $171.39. 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 52-week low of $104.33 and a 52-week high of $230.63. The stock has a market cap of $229.62 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 2.48 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (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 business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. 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 1.65%. QUALCOMM’s payout ratio is 45.70%.

Analysts Set New Price Targets

QCOM has been the subject of several analyst reports. Argus raised their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Citigroup raised their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Finally, Susquehanna lifted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $192.13.

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.