QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,856 shares of the wireless technology company’s stock after selling 365 shares during the quarter. QUALCOMM makes up 0.9% of Romano Brothers AND Company’s holdings, making the stock its 25th largest position. Romano Brothers AND Company’s holdings in QUALCOMM were worth $6,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Financial Gravity Asset Management Inc. increased its stake in 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. CarsonAllaria Wealth Management Ltd. boosted its stake in shares of 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 buying an additional 157 shares during the period. DiNuzzo Private Wealth Inc. acquired a new position in shares of QUALCOMM during the fourth quarter worth about $32,000. Cherry Tree Wealth Management LLC increased its stake 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 worth $34,000 after buying an additional 115 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on QCOM. Morgan Stanley upped their price objective on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. UBS Group raised their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Canaccord Genuity Group upped their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. HSBC raised their price objective 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, Bank of America increased their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The shares were 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 $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, 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 a total of 45,185 shares of company stock valued at $8,206,875 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 2.1 %

QUALCOMM stock traded up $4.03 during trading hours on Friday, reaching $199.18. 15,547,484 shares of the company’s stock traded hands, compared to its average volume of 11,272,695. The firm has a market capitalization of $222.28 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.37 and a beta of 1.30. 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 fifty-two week low of $104.33 and a fifty-two week high of $230.63. The firm’s 50 day moving average is $195.82 and its 200-day moving average is $169.45.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced 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. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s 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.