West Paces Advisors Inc. Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

West Paces Advisors Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 3,512 shares of the wireless technology company’s stock after selling 814 shares during the period. West Paces Advisors Inc.’s holdings in QUALCOMM were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Algert Global LLC purchased a new stake in shares of QUALCOMM during the third quarter worth approximately $545,000. Paragon Private Wealth Management LLC raised its stake in shares of QUALCOMM by 6.6% during the third quarter. Paragon Private Wealth Management LLC now owns 1,974 shares of the wireless technology company’s stock worth $219,000 after purchasing an additional 123 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of QUALCOMM by 29.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 47,384 shares of the wireless technology company’s stock worth $5,262,000 after purchasing an additional 10,728 shares during the last quarter. Mather Group LLC. grew its holdings in QUALCOMM by 1.4% during the third quarter. Mather Group LLC. now owns 18,424 shares of the wireless technology company’s stock worth $2,046,000 after acquiring an additional 255 shares during the period. Finally, Vinva Investment Management Ltd grew its holdings in QUALCOMM by 43.0% during the third quarter. Vinva Investment Management Ltd now owns 32,429 shares of the wireless technology company’s stock worth $3,603,000 after acquiring an additional 9,755 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the completion of the sale, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,116 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $70,207.38. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock worth $8,206,875 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Down 2.4 %

NASDAQ QCOM traded down $4.84 during trading hours on Wednesday, hitting $197.33. 9,677,598 shares of the company’s stock were exchanged, compared to its average volume of 9,296,562. The business’s 50 day moving average is $193.66 and its 200-day moving average is $168.40. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The firm has a market capitalization of $220.22 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. 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 released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler upped their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. HSBC upped their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Argus upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. upped their target price on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Robert W. Baird upped their target price on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.13.

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.