QUALCOMM Incorporated (NASDAQ:QCOM) Position Trimmed by Concord Wealth Partners

Concord Wealth Partners lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 45.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 976 shares of the wireless technology company’s stock after selling 804 shares during the period. Concord Wealth Partners’ holdings in QUALCOMM were worth $150,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the 4th quarter worth about $27,000. Planning Capital Management Corp lifted its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM in the third quarter worth about $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Trading Up 0.6 %

QCOM stock opened at $172.93 on Friday. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $160.76 and its 200-day moving average is $166.67. The firm has a market cap of $192.13 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.85 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for 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%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company 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 yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction that occurred 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 transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.