QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,234 shares of the wireless technology company’s stock after selling 143 shares during the period. Outlook Wealth Advisors LLC’s holdings in QUALCOMM were worth $497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA acquired a new position in QUALCOMM during the fourth quarter worth $26,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Sunbeam Capital Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter worth $30,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 425,064 shares of company stock worth $8,381,948 over the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of recent research reports. Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Robert W. Baird lowered their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. TD Cowen decreased their price target on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen lowered QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average price target of $189.88.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $149.24 on Monday. The stock’s 50-day moving average is $143.61 and its two-hundred day moving average is $155.12. 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 company has a market cap of $163.87 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 earnings per share. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is 36.25%.

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.