Wealth Alliance Sells 356 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wealth Alliance trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,845 shares of the wireless technology company’s stock after selling 356 shares during the period. Wealth Alliance’s holdings in QUALCOMM were worth $898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the third quarter worth approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Planning Capital Management Corp raised its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM during the third quarter worth approximately $39,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM opened at $173.70 on Friday. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The firm has a fifty day simple moving average of $164.32 and a 200 day simple moving average of $165.67. The stock has a market capitalization of $192.11 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 2.01 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the sale, the general counsel now directly owns 17,153 shares in the company, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,964 shares of company stock valued at $7,583,661. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on QCOM shares. UBS Group boosted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley lowered their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.