Prudent Man Advisors LLC Sells 553 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Prudent Man Advisors LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,664 shares of the wireless technology company’s stock after selling 553 shares during the period. Prudent Man Advisors LLC’s holdings in QUALCOMM were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Financial Advocates Investment Management lifted its holdings in shares of QUALCOMM by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 9,996 shares of the wireless technology company’s stock worth $1,700,000 after acquiring an additional 289 shares during the last quarter. HM Payson & Co. lifted its holdings in QUALCOMM by 3.5% during the 3rd quarter. HM Payson & Co. now owns 6,875 shares of the wireless technology company’s stock valued at $1,169,000 after buying an additional 230 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in QUALCOMM by 14.2% during the 3rd quarter. AustralianSuper Pty Ltd now owns 15,409 shares of the wireless technology company’s stock valued at $2,620,000 after buying an additional 1,914 shares in the last quarter. Reston Wealth Management LLC bought a new stake in QUALCOMM during the 3rd quarter valued at about $26,000. Finally, LCM Capital Management Inc lifted its holdings in QUALCOMM by 1.4% during the 3rd quarter. LCM Capital Management Inc now owns 7,210 shares of the wireless technology company’s stock valued at $1,226,000 after buying an additional 98 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were 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 of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 in the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Sanford C. Bernstein raised 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, Wells Fargo & Company raised their target price 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. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $157.18 on Friday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company has a 50 day simple moving average of $164.94 and a two-hundred day simple moving average of $165.64. The stock has a market cap of $173.84 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.