ARS Wealth Advisors Group LLC Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

ARS Wealth Advisors Group LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,969 shares of the wireless technology company’s stock after selling 570 shares during the period. ARS Wealth Advisors Group LLC’s holdings in QUALCOMM were worth $285,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $29,000. Brown Advisory Inc. grew its position in shares of QUALCOMM by 1.4% during the 3rd quarter. Brown Advisory Inc. now owns 550,579 shares of the wireless technology company’s stock valued at $61,147,000 after acquiring an additional 7,457 shares during the period. Jacobsen Capital Management purchased a new stake in shares of QUALCOMM during the 3rd quarter worth approximately $203,000. Sage Mountain Advisors LLC raised its holdings in shares of QUALCOMM by 9.0% in the 3rd quarter. Sage Mountain Advisors LLC now owns 4,075 shares of the wireless technology company’s stock worth $453,000 after purchasing an additional 338 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in QUALCOMM by 1.4% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 275,850 shares of the wireless technology company’s stock valued at $30,636,000 after purchasing an additional 3,692 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 0.3 %

Shares of QUALCOMM stock traded down $0.46 during trading on Friday, reaching $179.64. The company’s stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $183.19. The firm’s 50-day moving average is $167.69 and its two-hundred day moving average is $146.59. The company has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business 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 dividend of $0.85 per share. The ex-dividend date of this dividend is 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 1.89%. QUALCOMM’s dividend payout ratio is currently 43.01%.

Insider Buying and Selling

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 44,260 shares of company stock worth $7,429,728 in the last ninety days. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a report on Friday. UBS Group raised their price target on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Bank of America upped their price target on QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays raised their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $179.36.

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.