Evanson Asset Management LLC Has $629,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Evanson Asset Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 17.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,092 shares of the wireless technology company’s stock after selling 872 shares during the quarter. Evanson Asset Management LLC’s holdings in QUALCOMM were worth $629,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. WFA Asset Management Corp bought a new position in QUALCOMM in the first quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the 4th quarter worth about $26,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the fourth quarter worth $26,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the fourth quarter worth about $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on QCOM shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Loop Capital decreased their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Susquehanna cut their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and an average target price of $190.28.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now owns 57,997 shares in the company, valued at approximately $7,661,403.70. This represents a 2.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

QCOM opened at $153.63 on Friday. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $225.90. The stock has a market cap of $168.69 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.98 and a beta of 1.26. The business has a 50 day moving average of $147.30 and a 200-day moving average of $155.05. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.32%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

QUALCOMM Company 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.