QUALCOMM Incorporated (NASDAQ:QCOM) is Inlet Private Wealth LLC’s 9th Largest Position

Inlet Private Wealth LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,358 shares of the wireless technology company’s stock after selling 900 shares during the quarter. QUALCOMM makes up 2.0% of Inlet Private Wealth LLC’s holdings, making the stock its 9th largest holding. Inlet Private Wealth LLC’s holdings in QUALCOMM were worth $7,582,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Loop Capital initiated coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Evercore ISI boosted their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. One 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 0.6 %

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

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates 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 anticipate that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.