Avidian Wealth Solutions LLC Sells 234 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Avidian Wealth Solutions LLC reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,112 shares of the wireless technology company’s stock after selling 234 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in QUALCOMM were worth $739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. raised its position in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $32,000. Fortitude Family Office LLC bought a new stake in QUALCOMM in the 4th quarter worth approximately $35,000. Cranbrook Wealth Management LLC lifted its position in QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 163,963 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on QCOM. Bank of America boosted their price target on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Benchmark restated a “buy” rating and set a $200.00 target price on shares of QUALCOMM in a report on Friday. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target on the stock. KeyCorp raised their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Wolfe Research upped their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $179.36.

QUALCOMM Stock Up 0.8 %

QCOM traded up $1.49 during trading on Monday, reaching $181.13. The stock had a trading volume of 3,170,506 shares, compared to its average volume of 8,690,396. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $202.14 billion, a price-to-earnings ratio of 24.38, a P/E/G ratio of 2.27 and a beta of 1.33. The stock’s 50 day moving average is $167.69 and its two-hundred day moving average is $147.08. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $183.19.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.88%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of QUALCOMM 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 transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock valued at $7,429,728 in the last three months. Company insiders own 0.08% of the company’s stock.

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.