Verum Partners LLC Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Verum Partners LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,797 shares of the wireless technology company’s stock after selling 163 shares during the period. Verum Partners LLC’s holdings in QUALCOMM were worth $276,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Perfromance Wealth Partners LLC boosted its stake in QUALCOMM by 3.2% during the 4th quarter. Perfromance Wealth Partners LLC now owns 5,015 shares of the wireless technology company’s stock valued at $770,000 after purchasing an additional 155 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its position in shares of QUALCOMM by 7.0% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 463,018 shares of the wireless technology company’s stock valued at $71,129,000 after buying an additional 30,253 shares during the last quarter. Atomi Financial Group Inc. boosted its position in shares of QUALCOMM by 3.0% during the fourth quarter. Atomi Financial Group Inc. now owns 4,839 shares of the wireless technology company’s stock valued at $743,000 after buying an additional 143 shares during the last quarter. LifePlan Financial LLC lifted its stake in QUALCOMM by 14.6% during the 4th quarter. LifePlan Financial LLC now owns 2,810 shares of the wireless technology company’s stock valued at $432,000 after acquiring an additional 358 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its holdings in shares of QUALCOMM by 28.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 14,347 shares of the wireless technology company’s stock valued at $2,204,000 after acquiring an additional 3,162 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were 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 approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QCOM. Wells Fargo & Company raised their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. UBS Group increased their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Citigroup decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. 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 given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Stock Up 1.6 %

Shares of NASDAQ:QCOM opened at $167.27 on Wednesday. The company has a market cap of $185.84 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. The firm’s 50-day simple moving average is $158.78 and its 200-day simple moving average is $168.29. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.12 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

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.