Insigneo Advisory Services LLC Sells 489 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Insigneo Advisory Services LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,152 shares of the wireless technology company’s stock after selling 489 shares during the period. Insigneo Advisory Services LLC’s holdings in QUALCOMM were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Tallon Kerry Patrick acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $207,000. LaFleur & Godfrey LLC increased its position in shares of QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after purchasing an additional 300 shares in the last quarter. Brighton Jones LLC lifted its holdings in QUALCOMM by 116.6% during the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after purchasing an additional 9,343 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in QUALCOMM in the fourth quarter valued at about $10,394,000. Finally, Revolve Wealth Partners LLC grew its stake in QUALCOMM by 15.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock worth $391,000 after buying an additional 340 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares in the company, valued at $7,272,711.90. This represents a 6.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders sold a total of 423,464 shares of company stock worth $8,135,164 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on QCOM shares. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Bank of America cut their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday. Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research note on Thursday, May 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $190.28.

QUALCOMM Trading Down 1.5%

Shares of NASDAQ QCOM opened at $154.46 on Wednesday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a market capitalization of $169.60 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company’s 50 day simple moving average is $146.71 and its 200 day simple moving average is $155.12.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 earnings per share. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

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.