QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by San Luis Wealth Advisors LLC

San Luis Wealth Advisors LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,734 shares of the wireless technology company’s stock after selling 224 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in QUALCOMM were worth $266,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Bell Bank grew its stake in QUALCOMM by 8.5% in the 1st quarter. Bell Bank now owns 3,797 shares of the wireless technology company’s stock valued at $583,000 after acquiring an additional 296 shares during the period. PKO Investment Management Joint Stock Co grew its stake in QUALCOMM by 12.2% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 49,352 shares of the wireless technology company’s stock valued at $7,581,000 after acquiring an additional 5,352 shares during the period. Cardinal Capital Management grew its stake in QUALCOMM by 1.4% in the 1st quarter. Cardinal Capital Management now owns 66,410 shares of the wireless technology company’s stock valued at $10,201,000 after acquiring an additional 925 shares during the period. Berkshire Bank grew its stake in QUALCOMM by 5.9% in the 1st quarter. Berkshire Bank now owns 3,389 shares of the wireless technology company’s stock valued at $521,000 after acquiring an additional 188 shares during the period. Finally, RS Crum Inc. grew its stake in QUALCOMM by 5.9% in the 1st quarter. RS Crum Inc. now owns 5,030 shares of the wireless technology company’s stock valued at $773,000 after acquiring an additional 280 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $156.87 on Tuesday. The firm has a market capitalization of $172.24 billion, a P/E ratio of 16.76, a P/E/G ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $146.50 and its two-hundred day moving average is $155.12.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share. Research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.27%. QUALCOMM’s dividend payout ratio is presently 36.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on QCOM shares. Evercore ISI lowered their target price on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Citigroup lowered their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Susquehanna lowered their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $189.88.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now directly owns 57,997 shares in the company, valued at $7,661,403.70. This trade represents a 2.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 423,464 shares of company stock worth $8,135,164. 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.