Diversify Advisory Services LLC Sells 4,206 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Diversify Advisory Services LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,475 shares of the wireless technology company’s stock after selling 4,206 shares during the quarter. Diversify Advisory Services LLC’s holdings in QUALCOMM were worth $1,958,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in QCOM. Nordea Investment Management AB increased its position in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the last quarter. FNY Investment Advisers LLC bought a new position in QUALCOMM in the 4th quarter valued at about $2,058,000. Burney Co. increased its position in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares during the period. Wedge Capital Management L L P NC increased its position in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock worth $60,264,000 after acquiring an additional 51,879 shares during the period. Finally, Icon Wealth Advisors LLC raised its holdings in QUALCOMM by 123.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock valued at $5,643,000 after acquiring an additional 18,315 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $164.56 on Tuesday. The business has a fifty day simple moving average of $158.85 and a two-hundred day simple moving average of $168.57. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. 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 (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (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 analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QCOM shares. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Citigroup dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. 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. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM 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.