Beta Wealth Group Inc. Sells 690 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Beta Wealth Group Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,189 shares of the wireless technology company’s stock after selling 690 shares during the period. Beta Wealth Group Inc.’s holdings in QUALCOMM were worth $1,412,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QCOM. Eagle Strategies LLC lifted its position in shares of QUALCOMM by 4.3% during the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after buying an additional 59 shares during the last quarter. Clark Capital Management Group Inc. raised its position in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock valued at $264,000 after purchasing an additional 59 shares during the last quarter. Westwood Holdings Group Inc. raised its position in QUALCOMM by 2.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company’s stock valued at $509,000 after purchasing an additional 69 shares during the last quarter. Collaborative Wealth Managment Inc. raised its position in QUALCOMM by 5.1% in the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company’s stock valued at $217,000 after purchasing an additional 69 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC raised its position in QUALCOMM by 70.0% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total value of $234,240.00. Following the transaction, the insider owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 424,099 shares of company stock valued at $8,324,591. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.0%

NASDAQ QCOM opened at $148.19 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.08. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10. The business has a 50 day simple moving average of $155.11 and a 200 day simple moving average of $154.86. The stock has a market capitalization of $159.90 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.90 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm had revenue of $10.37 billion during the quarter, compared to analysts’ expectations of $10.33 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM’s dividend payout ratio (DPR) is 34.33%.

Analysts Set New Price Targets

QCOM has been the subject of several research reports. Piper Sandler dropped their target price on QUALCOMM from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday. Mizuho dropped their target price on QUALCOMM from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Thursday. Benchmark dropped their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, July 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Hold” and an average target price of $181.10.

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.