Capital Market Strategies LLC Sells 120 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Market Strategies LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 6.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,839 shares of the wireless technology company’s stock after selling 120 shares during the period. Capital Market Strategies LLC’s holdings in QUALCOMM were worth $311,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. bought a new stake in QUALCOMM during the 3rd quarter worth about $5,822,000. Envestnet Asset Management Inc. raised its stake in shares of QUALCOMM by 38.8% during the third quarter. Envestnet Asset Management Inc. now owns 2,100,680 shares of the wireless technology company’s stock worth $233,302,000 after buying an additional 587,371 shares during the last quarter. Cambridge Financial Group Inc. acquired a new position in QUALCOMM in the third quarter valued at approximately $4,834,000. CI Investments Inc. lifted its holdings in QUALCOMM by 3.7% in the third quarter. CI Investments Inc. now owns 184,535 shares of the wireless technology company’s stock valued at $20,494,000 after buying an additional 6,580 shares during the period. Finally, Bison Wealth LLC boosted its stake in QUALCOMM by 5.9% in the third quarter. Bison Wealth LLC now owns 3,888 shares of the wireless technology company’s stock valued at $432,000 after acquiring an additional 218 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the sale, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now owns 358 shares of the company’s stock, valued at approximately $70,207.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,185 shares of company stock worth $8,206,875. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on QCOM. Robert W. Baird upped their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Canaccord Genuity Group boosted their target price on QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Citigroup increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Susquehanna lifted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.74.

View Our Latest Stock Report on QUALCOMM

QUALCOMM Stock Up 2.2 %

NASDAQ:QCOM traded up $4.87 during trading hours on Wednesday, reaching $227.09. 22,037,468 shares of the stock were exchanged, compared to its average volume of 10,006,387. The stock has a market cap of $253.43 billion, a PE ratio of 30.52, a PEG ratio of 2.71 and a beta of 1.30. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The firm has a 50 day moving average of $189.61 and a 200 day moving average of $165.57. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98.

QUALCOMM (NASDAQ:QCOMGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities analysts expect that QUALCOMM Incorporated will post 7.83 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.50%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

About QUALCOMM

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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