Quotient Wealth Partners LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Quotient Wealth Partners LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,480 shares of the wireless technology company’s stock after selling 448 shares during the quarter. Quotient Wealth Partners LLC’s holdings in QUALCOMM were worth $535,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QCOM. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. One research 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Down 0.8 %

Shares of QUALCOMM stock opened at $167.96 on Monday. QUALCOMM Incorporated has a twelve month low of $146.29 and a twelve month high of $230.63. The stock has a market capitalization of $185.76 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.80 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $162.15 and its 200-day simple moving average is $165.66.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The business 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 dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was 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 directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock worth $4,000,870 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

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.