Capital Asset Advisory Services LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Asset Advisory Services LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,234 shares of the wireless technology company’s stock after selling 250 shares during the period. Capital Asset Advisory Services LLC’s holdings in QUALCOMM were worth $1,584,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. increased its holdings in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the period. CarsonAllaria Wealth Management Ltd. raised its position in 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 purchasing an additional 157 shares during the last quarter. DiNuzzo Private Wealth Inc. bought a new position in QUALCOMM during the 4th quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC raised its position in 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 purchasing an additional 115 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in QUALCOMM during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sylvia Acevedo sold 744 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $181.52, for a total value of $135,050.88. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at $9,802.08. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Argus upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. 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. KeyCorp upped their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Bank of America upped their target price on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

QUALCOMM Stock Performance

QCOM stock opened at $199.18 on Friday. The stock has a market capitalization of $222.28 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $195.82 and its 200 day simple moving average is $169.22.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion for 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%. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

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.