Valeo Financial Advisors LLC Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Valeo Financial Advisors LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,058 shares of the wireless technology company’s stock after selling 3,856 shares during the period. Valeo Financial Advisors LLC’s holdings in QUALCOMM were worth $7,459,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after buying an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD increased its position in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Morgan Stanley raised its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after purchasing an additional 438,660 shares in the last quarter. Norges Bank purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $2,507,978,000. Finally, Putnam Investments LLC boosted its stake in shares of QUALCOMM by 4.3% during the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now owns 5,902 shares in the company, valued at $1,185,947.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related 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 value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now 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 sold a total of 45,185 shares of company stock worth $8,456,475 in the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock traded up $3.65 during trading on Wednesday, hitting $203.81. 4,985,830 shares of the company’s stock were exchanged, compared to its average volume of 9,286,849. The stock has a market capitalization of $227.45 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.42 and a beta of 1.27. The business has a 50-day simple moving average of $197.39 and a 200-day simple moving average of $170.48. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. 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 (NASDAQ:QCOM) last released 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 business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.32 billion. On average, research analysts forecast that QUALCOMM Incorporated will post 7.85 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.67%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s payout ratio is 45.70%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Robert W. Baird upped their target price on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Bank of America raised their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. HSBC boosted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. KeyCorp raised their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Barclays boosted their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

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.