Astoria Portfolio Advisors LLC. Acquires 3,196 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Astoria Portfolio Advisors LLC. raised its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 45.4% in the first quarter, Holdings Channel reports. The institutional investor owned 10,232 shares of the wireless technology company’s stock after acquiring an additional 3,196 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in QUALCOMM were worth $1,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Eagle Strategies LLC boosted its position in QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after acquiring an additional 59 shares during the last quarter. Clark Capital Management Group Inc. boosted its holdings in shares of QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 59 shares during the last quarter. PDS Planning Inc boosted its position in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after acquiring an additional 64 shares during the last quarter. Cassady Schiller Wealth Management LLC boosted its holdings in QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after purchasing an additional 65 shares during the last quarter. Finally, Umpqua Bank increased its holdings in shares of QUALCOMM by 4.2% during the 4th quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company’s stock worth $264,000 after buying an additional 67 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

QCOM has been the subject of several analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Bank of America dropped their target price on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, June 17th. Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Susquehanna decreased their price target 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. Finally, TD Cowen cut their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $186.96.

QUALCOMM Trading Up 0.5%

NASDAQ:QCOM opened at $159.26 on Tuesday. 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 stock’s 50 day simple moving average is $149.90 and its 200-day simple moving average is $154.78. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $211.09. The firm has a market cap of $174.87 billion, a P/E ratio of 16.22, a PEG ratio of 2.05 and a beta of 1.26.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th were issued a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.24%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer directly owned 53,112 shares of the company’s stock, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 423,464 shares of company stock valued at $8,135,164 in the last ninety days. 0.08% of the stock is currently owned by company 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.