Wealthcare Advisory Partners LLC Has $2.92 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealthcare Advisory Partners LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,006 shares of the wireless technology company’s stock after selling 2,161 shares during the period. Wealthcare Advisory Partners LLC’s holdings in QUALCOMM were worth $2,919,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Howard Bailey Securities LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at $240,000. Teza Capital Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth about $1,541,000. Purkiss Capital Advisors LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth about $303,000. Amundi increased its position in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Finally, First Foundation Advisors increased its position in shares of QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock worth $24,083,000 after acquiring an additional 45,769 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of the stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the transaction, the chief financial officer now owns 57,997 shares of the company’s stock, valued at $7,661,403.70. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 423,464 shares of company stock valued at $8,135,164 in the last quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several analyst reports. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Evercore ISI dropped their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average price target of $189.88.

QUALCOMM Stock Performance

QUALCOMM stock opened at $159.13 on Wednesday. The firm’s 50 day simple moving average is $144.03 and its 200 day simple moving average is $155.14. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $174.72 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. QUALCOMM’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 EPS. As a group, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.24%. QUALCOMM’s dividend payout ratio is presently 36.25%.

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.