Integrated Advisors Network LLC Sells 3,334 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Integrated Advisors Network LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,467 shares of the wireless technology company’s stock after selling 3,334 shares during the period. Integrated Advisors Network LLC’s holdings in QUALCOMM were worth $2,376,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. WFA Asset Management Corp bought a new position in shares of QUALCOMM in the first quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. 74.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QCOM. Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Robert W. Baird dropped their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Susquehanna dropped their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Citigroup dropped their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of “Hold” and an average target price of $189.88.

QUALCOMM Trading Up 0.2%

QUALCOMM stock opened at $159.48 on Thursday. The stock has a market cap of $175.11 billion, a P/E ratio of 17.04, a PEG ratio of 2.01 and a beta of 1.26. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm’s fifty day moving average price is $144.67 and its 200-day moving average price is $155.17.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the completion of the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at $7,272,711.90. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction dated 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. Over the last ninety days, insiders sold 423,464 shares of company stock worth $8,135,164. Company insiders own 0.08% of the company’s stock.

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.