Evanson Asset Management LLC Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Evanson Asset Management LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,964 shares of the wireless technology company’s stock after selling 168 shares during the quarter. Evanson Asset Management LLC’s holdings in QUALCOMM were worth $763,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Nordea Investment Management AB grew its position in shares of QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares during the period. FNY Investment Advisers LLC purchased a new position in QUALCOMM in the fourth quarter valued at approximately $2,058,000. Burney Co. lifted its position in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares in the last quarter. Wedge Capital Management L L P NC grew its stake 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 buying an additional 51,879 shares during the period. Finally, Icon Wealth Advisors LLC increased its position in shares of QUALCOMM by 123.2% in the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after acquiring an additional 18,315 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on QCOM shares. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. Morgan Stanley lowered their target price 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. Finally, Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value 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 trade represents a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 1.9 %

QUALCOMM stock opened at $164.56 on Monday. The company has a 50 day moving average of $158.85 and a 200-day moving average of $168.82. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The stock has a market capitalization of $182.83 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during 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, equities research analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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 issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s payout ratio is presently 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.