First Affirmative Financial Network Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

First Affirmative Financial Network lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,330 shares of the wireless technology company’s stock after selling 105 shares during the period. First Affirmative Financial Network’s holdings in QUALCOMM were worth $511,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QCOM. Tallon Kerry Patrick purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $207,000. LaFleur & Godfrey LLC raised its holdings in shares of QUALCOMM by 10.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock valued at $480,000 after acquiring an additional 300 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company’s stock valued at $2,666,000 after acquiring an additional 9,343 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $10,394,000. Finally, Revolve Wealth Partners LLC raised its holdings in shares of QUALCOMM by 15.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company’s stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Citigroup lowered their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a report on Tuesday, April 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Loop Capital lowered their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 1st. Finally, Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $189.88.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 425,064 shares of company stock worth $8,381,948. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $149.24 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business’s 50 day simple moving average is $143.61 and its two-hundred day simple moving average is $155.12. The stock has a market capitalization of $163.87 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.44 EPS. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

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.