Toth Financial Advisory Corp Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Toth Financial Advisory Corp lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,268 shares of the wireless technology company’s stock after selling 119 shares during the quarter. Toth Financial Advisory Corp’s holdings in QUALCOMM were worth $384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Algert Global LLC purchased a new position in QUALCOMM during the third quarter valued at $545,000. Rehmann Capital Advisory Group increased its holdings in shares of QUALCOMM by 3.6% during the third quarter. Rehmann Capital Advisory Group now owns 10,312 shares of the wireless technology company’s stock valued at $1,145,000 after acquiring an additional 361 shares in the last quarter. United Services Automobile Association increased its holdings in shares of QUALCOMM by 2.2% during the third quarter. United Services Automobile Association now owns 171,656 shares of the wireless technology company’s stock valued at $19,064,000 after acquiring an additional 3,668 shares in the last quarter. First Business Financial Services Inc. increased its holdings in shares of QUALCOMM by 1.3% during the third quarter. First Business Financial Services Inc. now owns 9,052 shares of the wireless technology company’s stock valued at $1,005,000 after acquiring an additional 114 shares in the last quarter. Finally, Per Stirling Capital Management LLC. increased its holdings in shares of QUALCOMM by 2.8% during the third quarter. Per Stirling Capital Management LLC. now owns 5,651 shares of the wireless technology company’s stock valued at $628,000 after acquiring an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. Citigroup raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Robert W. Baird lifted their price objective on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 8th. Wolfe Research lifted their price objective on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Piper Sandler lifted their price objective on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One equities research 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’s stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Buying and Selling

In related news, Director Neil Smit sold 3,069 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value 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 SEC, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the business’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 transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the sale, the director now directly owns 5,902 shares in the company, valued at $1,185,947.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock valued at $8,206,875. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.1 %

QCOM stock opened at $199.18 on Friday. 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 stock has a market cap of $222.28 billion, a P/E ratio of 26.77, a PEG ratio of 2.42 and a beta of 1.30. The business’s 50-day moving average price is $195.82 and its 200-day moving average price is $169.45.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. QUALCOMM’s payout ratio is currently 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.