BlackDiamond Wealth Management LLC Has $258,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

BlackDiamond Wealth Management LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,681 shares of the wireless technology company’s stock after selling 164 shares during the period. BlackDiamond Wealth Management LLC’s holdings in QUALCOMM were worth $258,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $29,000. Synergy Asset Management LLC bought a new stake in QUALCOMM in the 4th quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. Susquehanna cut their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the 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 transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 over the last three months. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 0.9 %

Shares of NASDAQ QCOM opened at $157.95 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The firm has a 50 day moving average price of $164.64 and a two-hundred day moving average price of $164.32. The stock has a market cap of $174.69 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 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.