West Oak Capital LLC Sells 75 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

West Oak Capital LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,455 shares of the wireless technology company’s stock after selling 75 shares during the quarter. West Oak Capital LLC’s holdings in QUALCOMM were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Logan Capital Management Inc. increased its holdings in QUALCOMM by 20.2% in the third quarter. Logan Capital Management Inc. now owns 7,451 shares of the wireless technology company’s stock valued at $828,000 after purchasing an additional 1,252 shares during the last quarter. Insigneo Advisory Services LLC increased its holdings in QUALCOMM by 13.5% in the third quarter. Insigneo Advisory Services LLC now owns 7,017 shares of the wireless technology company’s stock valued at $779,000 after purchasing an additional 836 shares during the last quarter. Truist Financial Corp increased its holdings in QUALCOMM by 19.1% in the third quarter. Truist Financial Corp now owns 1,145,115 shares of the wireless technology company’s stock valued at $127,176,000 after purchasing an additional 184,023 shares during the last quarter. Axxcess Wealth Management LLC increased its holdings in QUALCOMM by 59.2% in the third quarter. Axxcess Wealth Management LLC now owns 27,410 shares of the wireless technology company’s stock valued at $3,044,000 after purchasing an additional 10,192 shares during the last quarter. Finally, Alps Advisors Inc. increased its holdings in QUALCOMM by 460.2% in the third quarter. Alps Advisors Inc. now owns 55,261 shares of the wireless technology company’s stock valued at $6,137,000 after purchasing an additional 45,397 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen boosted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Piper Sandler boosted their target price on QUALCOMM from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Bank of America boosted their target price on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Finally, Tigress Financial boosted their target price on QUALCOMM from $238.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, June 21st. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $192.13.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction 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 owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the sale, the chief accounting officer now owns 358 shares in the company, valued at approximately $70,207.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total value of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The disclosure for this sale can be found here. Insiders sold 45,185 shares of company stock valued at $8,456,475 in the last three months. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM traded up $0.13 during mid-day trading on Tuesday, reaching $200.16. The company’s stock had a trading volume of 5,629,337 shares, compared to its average volume of 9,320,942. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The stock has a market cap of $223.38 billion, a P/E ratio of 26.84, a PEG ratio of 2.42 and a beta of 1.27. The business has a 50-day simple moving average of $196.62 and a two-hundred day simple moving average of $170.08. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

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 analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion during 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, equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a $0.85 dividend. 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 yield of 1.70%. QUALCOMM’s payout ratio is currently 45.70%.

QUALCOMM Company 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.