Annex Advisory Services LLC Sells 6,795 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Annex Advisory Services LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,290 shares of the wireless technology company’s stock after selling 6,795 shares during the period. Annex Advisory Services LLC’s holdings in QUALCOMM were worth $4,112,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in QCOM. Algert Global LLC bought a new stake in QUALCOMM in the 3rd quarter worth approximately $545,000. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of QUALCOMM by 4.3% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 32,130 shares of the wireless technology company’s stock worth $3,568,000 after acquiring an additional 1,310 shares during the last quarter. Epoch Investment Partners Inc. boosted its stake in shares of QUALCOMM by 8.0% during the 3rd quarter. Epoch Investment Partners Inc. now owns 398,724 shares of the wireless technology company’s stock worth $44,282,000 after acquiring an additional 29,700 shares during the last quarter. Paragon Private Wealth Management LLC boosted its stake in shares of QUALCOMM by 6.6% during the 3rd quarter. Paragon Private Wealth Management LLC now owns 1,974 shares of the wireless technology company’s stock worth $219,000 after acquiring an additional 123 shares during the last quarter. Finally, Profund Advisors LLC boosted its stake in shares of QUALCOMM by 19.2% during the 3rd quarter. Profund Advisors LLC now owns 139,043 shares of the wireless technology company’s stock worth $15,442,000 after acquiring an additional 22,363 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $0.12 during trading hours on Tuesday, reaching $200.72. The company’s stock had a trading volume of 5,594,091 shares, compared to its average volume of 9,238,365. The firm has a 50 day moving average price of $192.98 and a 200-day moving average price of $167.91. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. 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 stock has a market cap of $224.00 billion, a P/E ratio of 26.98, a P/E/G ratio of 2.59 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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. The company had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, analysts predict that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.69%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Analyst Ratings Changes

Several brokerages have recently weighed in on QCOM. Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a research note on Friday, May 3rd. Argus lifted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Barclays lifted 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. Robert W. Baird lifted their target price 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. Finally, Bank of America lifted their target price on shares of QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Activity at QUALCOMM

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

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.