Global Wealth Management Investment Advisory Inc. Sells 1,173 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Global Wealth Management Investment Advisory Inc. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,898 shares of the wireless technology company’s stock after selling 1,173 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in QUALCOMM were worth $3,601,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hartford Funds Management Co LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at $636,000. Sage Rhino Capital LLC grew its position in shares of QUALCOMM by 4.9% in the 4th quarter. Sage Rhino Capital LLC now owns 3,666 shares of the wireless technology company’s stock worth $530,000 after buying an additional 171 shares during the last quarter. Savant Capital LLC boosted its position in QUALCOMM by 3.5% during the 4th quarter. Savant Capital LLC now owns 13,245 shares of the wireless technology company’s stock valued at $1,916,000 after acquiring an additional 444 shares in the last quarter. Brighton Jones LLC grew its holdings in QUALCOMM by 4.7% in the fourth quarter. Brighton Jones LLC now owns 10,386 shares of the wireless technology company’s stock worth $1,502,000 after purchasing an additional 462 shares during the period. Finally, Mission Wealth Management LP increased its holdings in shares of QUALCOMM by 28.6% during the fourth quarter. Mission Wealth Management LP now owns 16,622 shares of the wireless technology company’s stock valued at $2,404,000 after acquiring an additional 3,695 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 1.0 %

Shares of QCOM stock traded down $1.61 during trading hours on Wednesday, reaching $164.24. The company had a trading volume of 3,629,521 shares, compared to its average volume of 8,418,979. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business has a fifty day simple moving average of $166.45 and a 200-day simple moving average of $145.75. The company has a market cap of $183.29 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41.

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

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Susquehanna upped their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Piper Sandler lifted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research report on Thursday, February 1st. Finally, TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $160.68.

QUALCOMM Company 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.