PSI Advisors LLC Has $246,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

PSI Advisors LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,603 shares of the wireless technology company’s stock after selling 169 shares during the quarter. PSI Advisors LLC’s holdings in QUALCOMM were worth $246,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter worth $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the fourth quarter worth about $29,000. Finally, Sunbeam Capital Management LLC bought a new position in QUALCOMM in the 4th quarter valued at about $29,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on QCOM. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Bank of America lowered their price target on QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday. Evercore ISI reduced their price objective 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 for the company in a research note on Friday, April 11th. Finally, Loop Capital dropped their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.28.

QUALCOMM Price Performance

Shares of QCOM opened at $154.46 on Wednesday. The business has a 50-day moving average of $146.71 and a 200-day moving average of $155.12. 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 has a market capitalization of $169.60 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the company earned $2.44 EPS. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This is an increase 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 (DPR) is presently 36.25%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now owns 57,728 shares in the company, valued at $7,568,140.80. This represents a 0.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 423,464 shares of company stock valued at $8,135,164. Corporate insiders own 0.08% of the company’s stock.

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.