FLC Capital Advisors Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

FLC Capital Advisors decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,948 shares of the wireless technology company’s stock after selling 2,002 shares during the period. FLC Capital Advisors’ holdings in QUALCOMM were worth $1,375,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of QCOM. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the third quarter worth $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM during the 2nd quarter valued at about $30,000. Planning Capital Management Corp increased its position 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 purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC purchased a new position in shares of QUALCOMM in the third quarter worth approximately $39,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last 90 days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $164.56 on Monday. The firm has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG 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. The business has a 50 day simple moving average of $158.85 and a 200-day simple moving average of $168.82. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Equities analysts forecast that QUALCOMM Incorporated will post 9.09 EPS 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 given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

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.