Parallel Advisors LLC Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Parallel Advisors LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,779 shares of the wireless technology company’s stock after selling 901 shares during the period. Parallel Advisors LLC’s holdings in QUALCOMM were worth $2,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $29,000. Synergy Asset Management LLC bought a new position in QUALCOMM during the 4th quarter worth about $38,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $39,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Down 1.1 %

Shares of QCOM stock opened at $156.29 on Wednesday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The stock has a market cap of $172.86 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 1.28. The stock has a 50 day moving average of $164.56 and a 200 day moving average of $164.19. 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 posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.18%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Susquehanna decreased their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.