Wealth Alliance LLC Has $810,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealth Alliance LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,274 shares of the wireless technology company’s stock after selling 571 shares during the quarter. Wealth Alliance LLC’s holdings in QUALCOMM were worth $810,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Eagle Strategies LLC grew its position in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock valued at $219,000 after acquiring an additional 59 shares during the period. Clark Capital Management Group Inc. grew its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after acquiring an additional 59 shares during the period. Umpqua Bank grew its position in QUALCOMM by 4.2% in the fourth quarter. Umpqua Bank now owns 1,653 shares of the wireless technology company’s stock valued at $264,000 after acquiring an additional 67 shares during the period. Twin City Private Wealth LLC grew its position in QUALCOMM by 1.4% in the fourth quarter. Twin City Private Wealth LLC now owns 4,909 shares of the wireless technology company’s stock valued at $754,000 after acquiring an additional 67 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in QUALCOMM by 2.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company’s stock valued at $509,000 after acquiring an additional 69 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction 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 sale, the insider owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Up 1.4%

NASDAQ:QCOM opened at $154.80 on Monday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $169.97 billion, a price-to-earnings ratio of 15.76, a price-to-earnings-growth ratio of 1.99 and a beta of 1.26. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $196.24. The stock’s 50 day moving average price is $153.95 and its two-hundred day moving average price is $154.99.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share 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 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 firm earned $2.44 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. QUALCOMM’s dividend payout ratio is 36.25%.

Analysts Set New Price Targets

QCOM has been the subject of a number of recent analyst reports. Susquehanna dropped their price target on QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a “hold” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $186.00.

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.