PSI Advisors LLC Sells 169 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

PSI Advisors LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,603 shares of the wireless technology company’s stock after selling 169 shares during the quarter. PSI Advisors LLC’s holdings in QUALCOMM were worth $246,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. Geode Capital Management LLC boosted its stake in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after purchasing an additional 670,432 shares during the last quarter. Norges Bank bought a new stake in QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi lifted its holdings in shares of QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after buying an additional 1,493,076 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on QCOM shares. Wells Fargo & Company lowered their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research report on Tuesday, April 29th. 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. Bank of America decreased their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Citigroup cut their target price 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 equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $190.28.

QUALCOMM Stock Down 1.5%

QCOM opened at $154.46 on Wednesday. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company has a market cap of $169.60 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The company has a current ratio of 2.73, a quick ratio of 2.08 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $146.71 and a 200 day moving average of $155.12.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.30%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $146.10, for a total value of $486,951.30. Following the sale, the chief financial officer now directly owns 49,779 shares in the company, valued at $7,272,711.90. This represents a 6.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction on Friday, May 23rd. The shares were 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 sold 423,464 shares of company stock valued at $8,135,164 in the last quarter. 0.08% of the stock is currently owned by corporate 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.