Evernest Financial Advisors LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Evernest Financial Advisors LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,200 shares of the wireless technology company’s stock after selling 96 shares during the quarter. Evernest Financial Advisors LLC’s holdings in QUALCOMM were worth $799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of QUALCOMM in the second quarter worth $896,000. Algert Global LLC bought a new position in shares of QUALCOMM during the second quarter valued at about $366,000. Clearbridge Investments LLC boosted its holdings in shares of QUALCOMM by 0.5% during the second quarter. Clearbridge Investments LLC now owns 221,308 shares of the wireless technology company’s stock worth $44,080,000 after purchasing an additional 1,036 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in QUALCOMM during the 2nd quarter valued at about $109,000. Finally, Creekside Partners purchased a new stake in QUALCOMM in the 2nd quarter worth approximately $320,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QCOM stock opened at $171.93 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company has a market cap of $191.01 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The stock’s fifty day moving average price is $160.11 and its 200-day moving average price is $166.88.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QCOM shares. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Citigroup decreased their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Evercore ISI raised their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.57.

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.