Seed Wealth Management Inc. Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Seed Wealth Management Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,680 shares of the wireless technology company’s stock after selling 135 shares during the period. Seed Wealth Management Inc.’s holdings in QUALCOMM were worth $460,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in QCOM. Algert Global LLC purchased a new stake in QUALCOMM in the 3rd quarter worth about $545,000. O Shaughnessy Asset Management LLC lifted its stake in shares of QUALCOMM by 29.3% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 47,384 shares of the wireless technology company’s stock worth $5,262,000 after acquiring an additional 10,728 shares during the last quarter. Mather Group LLC. boosted its holdings in QUALCOMM by 1.4% during the 3rd quarter. Mather Group LLC. now owns 18,424 shares of the wireless technology company’s stock valued at $2,046,000 after acquiring an additional 255 shares during the period. Vinva Investment Management Ltd grew its position in QUALCOMM by 43.0% in the 3rd quarter. Vinva Investment Management Ltd now owns 32,429 shares of the wireless technology company’s stock valued at $3,603,000 after acquiring an additional 9,755 shares during the last quarter. Finally, Valley National Advisers Inc. increased its stake in QUALCOMM by 1.4% in the third quarter. Valley National Advisers Inc. now owns 6,922 shares of the wireless technology company’s stock worth $769,000 after purchasing an additional 95 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Neil Martin sold 1,116 shares of QUALCOMM stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the completion of the sale, the chief accounting officer now owns 358 shares of the company’s stock, valued at $70,207.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the completion of the transaction, the chief executive officer now owns 8,100 shares in the company, valued at approximately $1,466,100. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,185 shares of company stock valued at $8,206,875. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 1.1 %

NASDAQ QCOM traded down $2.18 on Thursday, hitting $195.15. The stock had a trading volume of 11,912,951 shares, compared to its average volume of 9,320,610. The business’s fifty day moving average price is $194.32 and its 200 day moving average price is $168.60. The stock has a market cap of $217.79 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping 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 the consensus estimate of $9.32 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.74%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on QCOM shares. Canaccord Genuity Group boosted their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Robert W. Baird upped their target price on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research note on Thursday, May 2nd. Mizuho increased their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, TD Cowen lifted their target price on QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $192.13.

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.