Financial Advocates Investment Management Sells 778 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Advocates Investment Management trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 9,218 shares of the wireless technology company’s stock after selling 778 shares during the quarter. Financial Advocates Investment Management’s holdings in QUALCOMM were worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the third quarter valued at about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $27,000. Planning Capital Management Corp lifted its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the third quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM during the fourth quarter valued at approximately $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on QCOM. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Wells Fargo & Company boosted their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Susquehanna decreased their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Finally, Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 3.7 %

Shares of NASDAQ QCOM opened at $169.32 on Friday. QUALCOMM Incorporated has a 1-year low of $143.63 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business’s 50 day moving average is $161.70 and its two-hundred day moving average is $166.02. The stock has a market capitalization of $188.11 billion, a P/E ratio of 18.83, a PEG ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued 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 2.01%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Buying and Selling

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction on Monday, December 16th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,981 shares of company stock valued at $4,000,870. Company insiders own 0.08% of the company’s stock.

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.