Avior Wealth Management LLC Has $2.01 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Avior Wealth Management LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,111 shares of the wireless technology company’s stock after selling 2,420 shares during the period. Avior Wealth Management LLC’s holdings in QUALCOMM were worth $2,014,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. WFA Asset Management Corp bought a new position in QUALCOMM during the first quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter valued at about $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the fourth quarter valued at about $26,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the fourth quarter valued at about $29,000. Finally, Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter valued at about $29,000. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 57,997 shares in the company, valued at approximately $7,661,403.70. This represents a 2.98% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 423,464 shares of company stock valued at $8,135,164. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Down 1.5%

Shares of QCOM opened at $151.32 on Friday. The company has a market capitalization of $166.15 billion, a P/E ratio of 15.41, a PEG ratio of 1.98 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $215.47. The business’s 50 day simple moving average is $147.54 and its 200-day simple moving average is $154.97.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 EPS. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.35%. QUALCOMM’s dividend payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QCOM. Susquehanna lowered their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Evercore ISI lowered their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Benchmark lowered their price target on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $190.28.

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.