Optivise Advisory Services LLC Sells 221 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Optivise Advisory Services LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,780 shares of the wireless technology company’s stock after selling 221 shares during the period. Optivise Advisory Services LLC’s holdings in QUALCOMM were worth $273,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Eagle Strategies LLC boosted its position in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. boosted its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after purchasing an additional 59 shares during the last quarter. TBH Global Asset Management LLC boosted its position in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares during the last quarter. PDS Planning Inc boosted its position in QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after purchasing an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC boosted its position in QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $154.46 on Wednesday. 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 quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The stock’s 50-day simple moving average is $146.71 and its two-hundred day simple moving average is $155.12. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio is currently 36.25%.

Insiders Place Their Bets

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider now directly owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the 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 have sold 423,464 shares of company stock worth $8,135,164 in the last ninety days. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on QCOM shares. 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. Loop Capital lowered their target price on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Evercore ISI lowered their target price on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a research note on Friday, May 2nd. Citigroup lowered their target price on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $190.28.

QUALCOMM 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.