Dynamic Advisor Solutions LLC Has $3.73 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Dynamic Advisor Solutions LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 8.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 22,011 shares of the wireless technology company’s stock after selling 2,018 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in QUALCOMM were worth $3,726,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in QUALCOMM in the 4th quarter valued at $2,507,978,000. International Assets Investment Management LLC raised its holdings in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. lifted its position in QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after buying an additional 2,659,323 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 worth $3,664,418,000 after acquiring an additional 1,909,025 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in QUALCOMM in the 1st quarter valued at about $238,770,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the transaction, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Robert W. Baird increased their price target on shares of QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. TD Cowen lifted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. HSBC upped their price target on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Bank of America boosted their price objective on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Barclays raised their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $192.13.

Read Our Latest Research Report on QCOM

QUALCOMM Stock Up 0.0 %

Shares of QCOM traded up $0.06 during midday trading on Tuesday, hitting $200.90. The stock had a trading volume of 7,819,503 shares, compared to its average volume of 9,258,420. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The firm has a market cap of $224.20 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.59 and a beta of 1.29. The company has a 50 day simple moving average of $192.98 and a two-hundred day simple moving average of $167.91. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOMGet Free Report) last released its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were paid a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.69%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s payout ratio is presently 45.70%.

QUALCOMM Profile

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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