Fortitude Advisory Group L.L.C. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Fortitude Advisory Group L.L.C. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,776 shares of the wireless technology company’s stock after selling 864 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in QUALCOMM were worth $580,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in QCOM. Greenup Street Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $2,256,000. Nilsine Partners LLC increased its stake in QUALCOMM by 4.3% in the 4th quarter. Nilsine Partners LLC now owns 8,145 shares of the wireless technology company’s stock valued at $1,251,000 after purchasing an additional 335 shares in the last quarter. Berkshire Bank increased its stake in QUALCOMM by 3.1% in the 4th quarter. Berkshire Bank now owns 3,201 shares of the wireless technology company’s stock valued at $492,000 after purchasing an additional 95 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in QUALCOMM by 4.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 14,126 shares of the wireless technology company’s stock worth $2,170,000 after purchasing an additional 544 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. grew its holdings in QUALCOMM by 0.8% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 11,016 shares of the wireless technology company’s stock valued at $1,692,000 after purchasing an additional 89 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction 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 directly owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 over the last ninety days. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on QCOM. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Sanford C. Bernstein boosted their price target on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Trading Down 0.5 %

NASDAQ QCOM opened at $171.18 on Tuesday. The company has a market capitalization of $190.18 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. 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 12 month low of $139.26 and a 12 month high of $230.63. The company’s fifty day moving average price is $159.49 and its two-hundred day moving average price is $167.27.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 dividend yield of 1.99%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.