Ieq Capital LLC Sells 4,090 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ieq Capital LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 59,489 shares of the wireless technology company’s stock after selling 4,090 shares during the period. Ieq Capital LLC’s holdings in QUALCOMM were worth $9,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Paulson Wealth Management Inc. lifted its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after buying an additional 61 shares during the last quarter. TBH Global Asset Management LLC lifted its position in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after buying an additional 63 shares during the last quarter. Delta Financial Advisors LLC lifted its position in shares of QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares during the last quarter. Finally, CFS Investment Advisory Services LLC increased its holdings in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after purchasing an additional 65 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Wells Fargo & Company upped their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Piper Sandler decreased their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock valued at $7,583,661 over the last ninety days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $173.70 on Friday. The business’s fifty day simple moving average is $164.32 and its 200 day simple moving average is $165.67. The firm has a market capitalization of $192.11 billion, a P/E ratio of 18.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced 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. This represents a $3.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.