Key Client Fiduciary Advisors LLC Sells 176 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Client Fiduciary Advisors LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,413 shares of the wireless technology company’s stock after selling 176 shares during the period. Key Client Fiduciary Advisors LLC’s holdings in QUALCOMM were worth $239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Financial Gravity Asset Management Inc. raised its holdings in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying 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 valued at $30,000 after buying an additional 157 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $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 valued at $34,000 after buying an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $195.15 on Friday. The stock has a market capitalization of $217.79 billion, a P/E ratio of 26.23, a P/E/G ratio of 2.40 and a beta of 1.30. The stock has a 50-day moving average price of $194.32 and a 200 day moving average price of $168.60. 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 12-month low of $104.33 and a 12-month high of $230.63.

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 the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Equities research analysts forecast that QUALCOMM Incorporated will post 7.85 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 paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.74%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a research note on Thursday, May 2nd. Tigress Financial lifted their price target on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Morgan Stanley lifted their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Wolfe Research lifted their price objective on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.13.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the sale, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $1,466,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,206,875 in the last ninety days. 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.