Private Advisor Group LLC decreased its stake in QUALCOMM, Inc. (NASDAQ:QCOM) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,485 shares of the wireless technology company’s stock after selling 6,656 shares during the quarter. Private Advisor Group LLC’s holdings in QUALCOMM were worth $2,252,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. HL Financial Services LLC grew its position in shares of QUALCOMM by 0.6% during the first quarter. HL Financial Services LLC now owns 20,371 shares of the wireless technology company’s stock worth $1,162,000 after purchasing an additional 128 shares in the last quarter. Harrington Investments INC grew its holdings in QUALCOMM by 1.1% during the 1st quarter. Harrington Investments INC now owns 13,751 shares of the wireless technology company’s stock valued at $784,000 after buying an additional 150 shares in the last quarter. Evolution Wealth Advisors LLC grew its holdings in QUALCOMM by 4.6% during the 1st quarter. Evolution Wealth Advisors LLC now owns 3,518 shares of the wireless technology company’s stock valued at $201,000 after buying an additional 154 shares in the last quarter. Atlas Brown Inc. grew its holdings in QUALCOMM by 3.5% during the 1st quarter. Atlas Brown Inc. now owns 5,305 shares of the wireless technology company’s stock valued at $303,000 after buying an additional 179 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its holdings in QUALCOMM by 18.3% during the 1st quarter. Berman Capital Advisors LLC now owns 1,166 shares of the wireless technology company’s stock valued at $65,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 76.38% of the company’s stock.
Shares of QCOM stock opened at $69.93 on Friday. QUALCOMM, Inc. has a 52-week low of $49.10 and a 52-week high of $90.34. The company has a debt-to-equity ratio of 3.98, a current ratio of 1.55 and a quick ratio of 1.39. The company has a market cap of $84.60 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.54 and a beta of 1.59.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 6th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, June 5th. QUALCOMM’s dividend payout ratio is currently 77.74%.
Several equities analysts have weighed in on QCOM shares. BidaskClub cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Macquarie set a $90.00 price target on QUALCOMM and gave the company a “buy” rating in a report on Thursday, May 23rd. Mizuho restated a “buy” rating and set a $82.00 price target (up previously from $62.00) on shares of QUALCOMM in a report on Wednesday, April 17th. Barclays raised their price target on QUALCOMM from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Finally, DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $79.68.
In related news, EVP Alexander H. Rogers sold 20,862 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $88.43, for a total transaction of $1,844,826.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michelle M. Sterling sold 5,560 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.44, for a total value of $480,606.40. The disclosure for this sale can be found here. Insiders have sold a total of 949,832 shares of company stock valued at $37,443,538 over the last three months. 0.11% of the stock is owned by corporate insiders.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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