Nicholas Hoffman & Company LLC. Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Nicholas Hoffman & Company LLC. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,713 shares of the wireless technology company’s stock after selling 150 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in QUALCOMM were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. raised its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after acquiring an additional 157 shares during the period. Richardson Capital Management LLC acquired a new stake in QUALCOMM during the 1st quarter worth $37,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC raised its position in shares of QUALCOMM by 95.0% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 over the last 90 days. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QCOM. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Piper Sandler lifted their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Cantor Fitzgerald increased their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Finally, Benchmark initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They issued a “buy” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.68.

QUALCOMM Stock Down 2.0 %

Shares of QUALCOMM stock traded down $3.35 during trading hours on Tuesday, reaching $165.85. 6,908,978 shares of the company were exchanged, compared to its average volume of 8,481,063. The firm has a market cap of $185.09 billion, a PE ratio of 24.04, a PEG ratio of 2.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The stock’s fifty day moving average is $166.45 and its 200 day moving average is $145.75.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.05%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

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.