SVB Wealth LLC Sells 14,676 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

SVB Wealth LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 50.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,368 shares of the wireless technology company’s stock after selling 14,676 shares during the quarter. SVB Wealth LLC’s holdings in QUALCOMM were worth $2,432,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of QCOM. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter valued at about $27,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM in the fourth quarter valued at about $32,000. Cherry Tree Wealth Management LLC increased its position in QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares in the last quarter. Finally, Cranbrook Wealth Management LLC increased its position in QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.0 %

Shares of NASDAQ QCOM traded down $1.85 during mid-day trading on Tuesday, reaching $176.79. 1,179,735 shares of the company were exchanged, compared to its average volume of 9,109,973. 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 stock has a market cap of $197.30 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.19 and a beta of 1.27. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The firm has a 50-day moving average of $203.81 and a 200 day moving average of $177.81.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, research analysts expect that QUALCOMM Incorporated will post 7.84 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. Wolfe Research upped their price target on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Mizuho upped their price target on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research report on Wednesday, July 17th. KeyCorp boosted their target price on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company boosted their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $199.63.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is owned by insiders.

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.