Carson Advisory Inc. Has $534,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Carson Advisory Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,157 shares of the wireless technology company’s stock after selling 92 shares during the period. Carson Advisory Inc.’s holdings in QUALCOMM were worth $534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Integrated Advisors Network LLC lifted its stake in shares of QUALCOMM by 13.4% in the 3rd quarter. Integrated Advisors Network LLC now owns 19,799 shares of the wireless technology company’s stock valued at $2,199,000 after acquiring an additional 2,343 shares during the last quarter. Resources Management Corp CT ADV boosted its holdings in shares of QUALCOMM by 1.9% during the 3rd quarter. Resources Management Corp CT ADV now owns 41,750 shares of the wireless technology company’s stock valued at $4,637,000 after acquiring an additional 769 shares in the last quarter. OLD National Bancorp IN grew its position in QUALCOMM by 58.3% during the 3rd quarter. OLD National Bancorp IN now owns 40,845 shares of the wireless technology company’s stock worth $4,536,000 after acquiring an additional 15,035 shares during the last quarter. Finally, Savoie Capital LLC acquired a new position in QUALCOMM in the 3rd quarter worth about $10,002,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $180.69, for a total transaction of $542,070.00. Following the transaction, the chief financial officer now directly owns 66,343 shares of the company’s stock, valued at approximately $11,987,516.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Sylvia Acevedo sold 2,056 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at $9,623.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $180.69, for a total value of $542,070.00. Following the completion of the transaction, the chief financial officer now directly owns 66,343 shares in the company, valued at approximately $11,987,516.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QCOM shares. Argus lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. HSBC boosted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. KeyCorp lifted their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Piper Sandler raised their target price on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.96.

Read Our Latest Stock Analysis on QUALCOMM

QUALCOMM Stock Up 0.8 %

NASDAQ QCOM traded up $1.68 during mid-day trading on Wednesday, hitting $208.80. The company’s stock had a trading volume of 5,154,425 shares, compared to its average volume of 9,184,460. The firm has a market capitalization of $233.02 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 2.53 and a beta of 1.27. The company’s 50 day simple moving average is $201.41 and its 200 day simple moving average is $172.71. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.63%. QUALCOMM’s payout ratio is presently 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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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