Massachusetts Wealth Management Sells 75 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Massachusetts Wealth Management decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the fourth quarter, Holdings Channel reports. The firm owned 4,773 shares of the wireless technology company’s stock after selling 75 shares during the quarter. Massachusetts Wealth Management’s holdings in QUALCOMM were worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Country Club Bank increased its position in shares of QUALCOMM by 2.5% during the 4th quarter. Country Club Bank now owns 6,930 shares of the wireless technology company’s stock valued at $1,071,000 after purchasing an additional 170 shares during the last quarter. Virginia Wealth Management Group Inc. grew its position in QUALCOMM by 0.7% during the fourth quarter. Virginia Wealth Management Group Inc. now owns 29,665 shares of the wireless technology company’s stock valued at $4,557,000 after buying an additional 211 shares during the period. Weaver Capital Management LLC grew its position in QUALCOMM by 304.3% during the fourth quarter. Weaver Capital Management LLC now owns 7,270 shares of the wireless technology company’s stock valued at $1,117,000 after buying an additional 5,472 shares during the period. Hager Investment Management Services LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $224,000. Finally, Stratos Wealth Partners LTD. raised its position in QUALCOMM by 2.3% in the fourth quarter. Stratos Wealth Partners LTD. now owns 121,266 shares of the wireless technology company’s stock worth $18,629,000 after acquiring an additional 2,674 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now 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 disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock worth $4,000,870 in the last quarter. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Sanford C. Bernstein raised their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Up 1.6 %

QCOM stock opened at $173.04 on Wednesday. QUALCOMM Incorporated has a twelve month low of $141.21 and a twelve month high of $230.63. The stock has a market capitalization of $192.25 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm’s fifty day simple moving average is $161.31 and its two-hundred day simple moving average is $165.95.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

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.