Aviance Capital Partners LLC Has $752,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Aviance Capital Partners LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 55.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,442 shares of the wireless technology company’s stock after selling 5,456 shares during the period. Aviance Capital Partners LLC’s holdings in QUALCOMM were worth $752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. CarsonAllaria Wealth Management Ltd. raised its stake in QUALCOMM by 327.1% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC bought a new position in shares of QUALCOMM in the first quarter valued at about $37,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $32,000. Cherry Tree Wealth Management LLC boosted 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 during the period. Finally, Financial Gravity Asset Management Inc. boosted 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 worth $26,000 after buying an additional 122 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the completion of the sale, the director now directly owns 5,902 shares in the company, valued at approximately $1,185,947.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock worth $8,456,475 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on QCOM. Wolfe Research raised their price objective on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Morgan Stanley increased 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. Bank of America boosted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. HSBC raised their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Mizuho boosted their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $200.03 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63. The firm has a market cap of $223.23 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. The firm’s fifty day moving average is $195.82 and its 200-day moving average is $169.67.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.70%. QUALCOMM’s dividend payout ratio is 45.70%.

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.