QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,304 shares of the wireless technology company’s stock after selling 106 shares during the period. Monterey Private Wealth Inc.’s holdings in QUALCOMM were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Paulson Wealth Management Inc. increased its position in shares of QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares in the last quarter. Blossom Wealth Management increased its holdings in shares of QUALCOMM by 2.6% in the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after acquiring an additional 64 shares in the last quarter. Delta Financial Advisors LLC raised its position in shares of QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after purchasing an additional 65 shares during the period. Muirfield Wealth Advisors LLC raised its holdings in QUALCOMM by 3.1% during the 3rd quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $370,000 after buying an additional 66 shares during the period. Finally, Invst LLC boosted its holdings in shares of QUALCOMM by 2.9% in the second quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock valued at $473,000 after buying an additional 67 shares during the period. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. 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, Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $164.56 on Tuesday. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The company has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.75 and a beta of 1.25. The company has a 50-day simple moving average of $158.78 and a 200 day simple moving average of $168.29. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.12 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s payout ratio is 37.82%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

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.