Daymark Wealth Partners LLC Sells 2,259 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Daymark Wealth Partners LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,403 shares of the wireless technology company’s stock after selling 2,259 shares during the period. Daymark Wealth Partners LLC’s holdings in QUALCOMM were worth $17,992,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Milestone Investment Advisors LLC purchased a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $26,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. lifted its stake in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares in the last quarter. Pacific Center for Financial Services purchased a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $31,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in QUALCOMM in the 1st quarter worth approximately $32,000. 71.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays increased their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. KeyCorp increased their target price on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Canaccord Genuity Group increased their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a report on Monday, March 4th. Finally, Rosenblatt Securities increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

Read Our Latest Research Report on QCOM

QUALCOMM Stock Performance

QUALCOMM stock opened at $167.20 on Friday. The stock’s 50 day moving average is $153.14 and its 200 day moving average is $132.79. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a market capitalization of $186.60 billion, a P/E ratio of 24.23, a PEG ratio of 2.31 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th will be paid a dividend of $0.80 per share. The ex-dividend date is Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.91%. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Activity

In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the transaction, the chief executive officer now directly owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock valued at $5,457,048 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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