QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,410 shares of the wireless technology company’s stock after selling 1,032 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in QUALCOMM were worth $1,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of QCOM. Teza Capital Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $1,541,000. Purkiss Capital Advisors LLC acquired a new position in QUALCOMM during the fourth quarter worth $303,000. Amundi raised its holdings in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares in the last quarter. First Foundation Advisors raised its holdings in QUALCOMM by 41.2% during the fourth quarter. First Foundation Advisors now owns 156,770 shares of the wireless technology company’s stock valued at $24,083,000 after buying an additional 45,769 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of QUALCOMM by 42.2% in the first quarter. Sound Income Strategies LLC now owns 1,055 shares of the wireless technology company’s stock worth $162,000 after buying an additional 313 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 sale, the chief financial officer now owns 49,779 shares in the company, valued at $7,272,711.90. This trade represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 423,464 shares of company stock worth $8,135,164 in the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on QCOM shares. Bank of America lowered their price objective on QUALCOMM from $245.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, June 17th. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Citigroup reduced their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Susquehanna decreased their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $186.96.

QUALCOMM Trading Up 1.4%

Shares of QUALCOMM stock opened at $158.19 on Friday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $211.09. The firm has a market capitalization of $173.69 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.01 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 fifty day moving average price is $149.00 and its two-hundred day moving average price is $154.82.

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

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.25%. QUALCOMM’s dividend payout ratio is presently 36.25%.

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.