Wendell David Associates Inc. Has $6.26 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wendell David Associates Inc. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 40,763 shares of the wireless technology company’s stock after selling 1,850 shares during the quarter. Wendell David Associates Inc.’s holdings in QUALCOMM were worth $6,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter worth $26,000. HWG Holdings LP acquired a new stake in QUALCOMM in the 2nd quarter worth $30,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% during 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 acquired a new position in shares of QUALCOMM during the third quarter valued at about $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM in the third quarter valued at about $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $170.24 on Thursday. The firm’s 50 day moving average price is $158.86 and its two-hundred day moving average price is $168.02. The stock has a market cap of $189.14 billion, a PE ratio of 18.94, a PEG ratio of 2.79 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $139.26 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

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

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. UBS Group lifted their price target 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. Citigroup dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Morgan Stanley decreased their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

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.