Robertson Stephens Wealth Management LLC Sells 600 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Robertson Stephens Wealth Management LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,038 shares of the wireless technology company’s stock after selling 600 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in QUALCOMM were worth $3,078,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Brookstone Capital Management raised its position in QUALCOMM by 3.5% during the third quarter. Brookstone Capital Management now owns 29,148 shares of the wireless technology company’s stock worth $4,957,000 after acquiring an additional 991 shares in the last quarter. CWM LLC raised its position in QUALCOMM by 2.7% during the third quarter. CWM LLC now owns 124,409 shares of the wireless technology company’s stock worth $21,156,000 after acquiring an additional 3,264 shares in the last quarter. Marcum Wealth LLC raised its position in QUALCOMM by 8.6% during the third quarter. Marcum Wealth LLC now owns 2,529 shares of the wireless technology company’s stock worth $430,000 after acquiring an additional 200 shares in the last quarter. Wedmont Private Capital raised its position in QUALCOMM by 7.2% during the third quarter. Wedmont Private Capital now owns 10,946 shares of the wireless technology company’s stock worth $1,827,000 after acquiring an additional 738 shares in the last quarter. Finally, Patten Group Inc. raised its position in QUALCOMM by 3.1% during the third quarter. Patten Group Inc. now owns 14,172 shares of the wireless technology company’s stock worth $2,410,000 after acquiring an additional 424 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $169.32 on Friday. 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 Incorporated has a 12 month low of $143.63 and a 12 month high of $230.63. The firm has a market cap of $188.11 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.87 and a beta of 1.25. The company’s 50-day moving average price is $161.70 and its two-hundred day moving average price is $166.02.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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 26.03% and a return on equity of 38.81%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 2.01%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,981 shares of company stock valued at $4,000,870. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on QCOM. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.