Astoria Portfolio Advisors LLC. Sells 71 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Astoria Portfolio Advisors LLC. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,643 shares of the wireless technology company’s stock after selling 71 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in QUALCOMM were worth $958,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. CarsonAllaria Wealth Management Ltd. lifted its position in QUALCOMM by 327.1% in the fourth 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 stake in QUALCOMM in the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC raised its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $35,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares in the company, valued at $44,068,735.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,185 shares of company stock valued at $8,206,875. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 2.1 %

Shares of NASDAQ:QCOM opened at $199.18 on Friday. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63. The stock’s fifty day moving average price is $195.82 and its 200-day moving average price is $169.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The company has a market cap of $222.28 billion, a P/E ratio of 26.77, a PEG ratio of 2.37 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a 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 (DPR) is presently 45.70%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a report on Thursday, May 2nd. Canaccord Genuity Group upped their target price on QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. HSBC upped their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Bank of America upped their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Wells Fargo & Company upped their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.13.

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.