Carson Advisory Inc. Has $470,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Carson Advisory Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,249 shares of the wireless technology company’s stock after selling 1,448 shares during the period. Carson Advisory Inc.’s holdings in QUALCOMM were worth $470,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of QCOM. Financial Gravity Asset Management Inc. lifted its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Legacy Financial Group LLC bought a new stake in QUALCOMM during the 3rd quarter valued at $29,000. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM during the 4th quarter valued at $32,000. Fortitude Family Office LLC bought a new stake in QUALCOMM during the 4th quarter valued at $35,000. Finally, Cranbrook Wealth Management LLC increased its stake in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction 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 owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the sale, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on QCOM shares. Citigroup boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research note on Thursday. Morgan Stanley boosted their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research note on Thursday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of QUALCOMM in a research note on Thursday. Canaccord Genuity Group upped their target price on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Susquehanna upped their target price on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $179.36.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $15.99 on Thursday, reaching $180.10. The stock had a trading volume of 25,827,533 shares, compared to its average volume of 8,739,938. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $181.69. The company has a market cap of $200.99 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $166.69 and its two-hundred day moving average is $145.87.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. 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 1.89%. QUALCOMM’s payout ratio is presently 46.38%.

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.