Financial Synergies Wealth Advisors Inc. Sells 519 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Synergies Wealth Advisors Inc. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 62.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 312 shares of the wireless technology company’s stock after selling 519 shares during the quarter. Financial Synergies Wealth Advisors Inc.’s holdings in QUALCOMM were worth $53,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. CarsonAllaria Wealth Management Ltd. raised its holdings in shares of QUALCOMM by 327.1% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth $32,000. Cherry Tree Wealth Management LLC raised its holdings in shares of QUALCOMM by 95.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after buying an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth $35,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 5.5 %

NASDAQ QCOM opened at $200.84 on Tuesday. The stock’s 50-day simple moving average is $192.98 and its two-hundred day simple moving average is $167.91. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $224.14 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.59 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. Research analysts forecast that QUALCOMM Incorporated will post 7.83 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a $0.85 dividend. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 45.70%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QCOM. TD Cowen boosted their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Mizuho upped their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target on the stock. Finally, Argus upped their target price on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,116 shares of the firm’s 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 sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last ninety days. 0.08% of the stock is owned by insiders.

About QUALCOMM

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.