Keystone Wealth Services LLC Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Keystone Wealth Services LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,624 shares of the wireless technology company’s stock after selling 290 shares during the period. Keystone Wealth Services LLC’s holdings in QUALCOMM were worth $444,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grandview Asset Management LLC grew its holdings in shares of QUALCOMM by 2.3% in the first quarter. Grandview Asset Management LLC now owns 2,730 shares of the wireless technology company’s stock valued at $462,000 after purchasing an additional 62 shares during the period. Tealwood Asset Management Inc. grew its stake in shares of QUALCOMM by 0.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 9,899 shares of the wireless technology company’s stock valued at $1,676,000 after buying an additional 63 shares during the period. VERITY Wealth Advisors increased its holdings in shares of QUALCOMM by 0.8% during the 1st quarter. VERITY Wealth Advisors now owns 7,795 shares of the wireless technology company’s stock worth $1,320,000 after buying an additional 64 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its position in shares of QUALCOMM by 1.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,745 shares of the wireless technology company’s stock valued at $831,000 after buying an additional 66 shares during the period. Finally, Glass Jacobson Investment Advisors llc lifted its holdings in QUALCOMM by 6.5% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after acquiring an additional 68 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 0.4 %

NASDAQ:QCOM traded up $0.78 during mid-day trading on Tuesday, hitting $201.62. The stock had a trading volume of 4,144,974 shares, compared to its average volume of 9,222,167. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a twelve month low of $104.33 and a twelve month high of $230.63. The company has a market capitalization of $225.01 billion, a PE ratio of 26.98, a PEG ratio of 2.59 and a beta of 1.29. The stock has a 50-day simple moving average of $192.98 and a two-hundred day simple moving average of $167.91.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Analyst Ratings Changes

QCOM has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. TD Cowen boosted their price objective on shares of QUALCOMM from $200.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Benchmark reaffirmed a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a research note on Friday, May 3rd. Canaccord Genuity Group boosted their price target 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. Finally, Piper Sandler increased their price objective on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $192.13.

Insider Activity

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Neil Martin sold 1,116 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total value of $218,858.76. Following the completion of the sale, the chief accounting officer now directly owns 358 shares of the company’s stock, valued at approximately $70,207.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock worth $8,206,875. 0.08% of the stock is currently owned by insiders.

QUALCOMM 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.