QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Stone Summit Wealth LLC

Stone Summit Wealth LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,556 shares of the wireless technology company’s stock after selling 890 shares during the quarter. QUALCOMM makes up 1.2% of Stone Summit Wealth LLC’s investment portfolio, making the stock its 27th biggest position. Stone Summit Wealth LLC’s holdings in QUALCOMM were worth $3,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM in the third quarter valued at about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Planning Capital Management Corp boosted its stake 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 valued at $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the third quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 0.8 %

QCOM opened at $167.96 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The company has a market capitalization of $185.76 billion, a PE ratio of 17.94, a P/E/G ratio of 2.80 and a beta of 1.25. The stock’s fifty day moving average is $162.15 and its 200-day moving average is $165.66. QUALCOMM Incorporated has a one year low of $146.29 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling at QUALCOMM

In other 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 value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company’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 transaction 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 approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,981 shares of company stock valued at $4,000,870. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on QCOM. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday. Finally, Wells Fargo & Company upped their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating 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 issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average 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.