QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Denali Advisors LLC

Denali Advisors LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 41.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 700 shares of the wireless technology company’s stock after selling 500 shares during the period. Denali Advisors LLC’s holdings in QUALCOMM were worth $119,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. WFA Asset Management Corp purchased a new position in QUALCOMM during the first quarter worth $27,000. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of QUALCOMM by 327.1% in the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter valued at $32,000. Finally, Cherry Tree Wealth Management LLC increased its position in QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on QCOM shares. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a report on Thursday, May 2nd. Wells Fargo & Company raised their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. Mizuho lifted their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. TD Cowen increased their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Morgan Stanley boosted their target price on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,456,475 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.8 %

Shares of QCOM stock traded up $3.65 on Wednesday, hitting $203.81. The stock had a trading volume of 4,991,555 shares, compared to its average volume of 9,286,894. The stock’s 50 day moving average is $197.39 and its 200-day moving average is $170.48. The firm has a market capitalization of $227.45 billion, a price-to-earnings ratio of 27.39, a P/E/G ratio of 2.42 and a beta of 1.27. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The company had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. As a group, research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.67%. QUALCOMM’s payout ratio is currently 45.70%.

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.