Earned Wealth Advisors LLC Trims Position in QUALCOMM Incorporated $QCOM

Earned Wealth Advisors LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 44.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,826 shares of the wireless technology company’s stock after selling 1,462 shares during the quarter. Earned Wealth Advisors LLC’s holdings in QUALCOMM were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Avion Wealth raised its position in QUALCOMM by 16.7% during the 2nd quarter. Avion Wealth now owns 441 shares of the wireless technology company’s stock worth $70,000 after buying an additional 63 shares during the last quarter. Insight Advisors LLC PA increased its holdings in shares of QUALCOMM by 1.8% during the 2nd quarter. Insight Advisors LLC PA now owns 3,488 shares of the wireless technology company’s stock valued at $556,000 after purchasing an additional 63 shares in the last quarter. Capital Advantage Inc. increased its holdings in shares of QUALCOMM by 2.8% during the 2nd quarter. Capital Advantage Inc. now owns 2,353 shares of the wireless technology company’s stock valued at $375,000 after purchasing an additional 64 shares in the last quarter. Rise Advisors LLC increased its holdings in shares of QUALCOMM by 6.7% during the 1st quarter. Rise Advisors LLC now owns 1,048 shares of the wireless technology company’s stock valued at $161,000 after purchasing an additional 66 shares in the last quarter. Finally, Bell Investment Advisors Inc increased its holdings in shares of QUALCOMM by 4.6% during the 1st quarter. Bell Investment Advisors Inc now owns 1,504 shares of the wireless technology company’s stock valued at $231,000 after purchasing an additional 66 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on QCOM. Arete upgraded shares of QUALCOMM from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research report on Tuesday, August 26th. Susquehanna upped their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Piper Sandler decreased their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. UBS Group set a $165.00 price objective on shares of QUALCOMM in a research report on Monday. Finally, Mizuho decreased their price objective on shares of QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $183.95.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $180.90 on Friday. The firm has a market cap of $195.19 billion, a PE ratio of 17.44, a PEG ratio of 2.59 and a beta of 1.23. The firm has a fifty day moving average of $165.85 and a 200 day moving average of $156.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $205.95.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, topping the consensus estimate of $2.71 by $0.06. The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.33 EPS. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.0%. QUALCOMM’s dividend payout ratio is presently 34.33%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 8,335 shares of the stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $166.06, for a total value of $1,384,110.10. Following the completion of the sale, the chief financial officer owned 36,541 shares in the company, valued at approximately $6,067,998.46. This represents a 18.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 791 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $154.82, for a total transaction of $122,462.62. Following the completion of the sale, the chief accounting officer owned 1,106 shares of the company’s stock, valued at approximately $171,230.92. The trade was a 41.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 166,502 shares of company stock worth $27,472,615 over the last three months. 0.08% of the stock is 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.