Capital Asset Advisory Services LLC Sells 142 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Asset Advisory Services LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,665 shares of the wireless technology company’s stock after selling 142 shares during the period. Capital Asset Advisory Services LLC’s holdings in QUALCOMM were worth $1,368,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter valued at approximately $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM in the 2nd quarter valued at $30,000. Planning Capital Management Corp increased its position 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 period. Accordant Advisory Group Inc bought a new position in QUALCOMM during the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM in the third quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $172.11 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market cap of $191.21 billion, a price-to-earnings ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The firm’s 50-day simple moving average is $159.49 and its two-hundred day simple moving average is $167.56.

QUALCOMM (NASDAQ:QCOM) last released its earnings results 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 business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 37.82%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $206.57.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock valued at $4,314,649 over the last quarter. 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.