Wealth Alliance Sells 356 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wealth Alliance cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,845 shares of the wireless technology company’s stock after selling 356 shares during the period. Wealth Alliance’s holdings in QUALCOMM were worth $898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Private Wealth Partners LLC raised its position in shares of QUALCOMM by 1.0% in the fourth quarter. Private Wealth Partners LLC now owns 115,591 shares of the wireless technology company’s stock valued at $17,757,000 after purchasing an additional 1,199 shares during the period. TBH Global Asset Management LLC raised its position in shares of QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after purchasing an additional 63 shares during the period. ICICI Prudential Asset Management Co Ltd raised its position in shares of QUALCOMM by 43.2% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 20,830 shares of the wireless technology company’s stock valued at $3,200,000 after purchasing an additional 6,288 shares during the period. Private Advisor Group LLC raised its position in shares of QUALCOMM by 1.9% in the fourth quarter. Private Advisor Group LLC now owns 91,424 shares of the wireless technology company’s stock valued at $14,045,000 after purchasing an additional 1,709 shares during the period. Finally, Hudson Value Partners LLC raised its position in shares of QUALCOMM by 3.1% in the fourth quarter. Hudson Value Partners LLC now owns 33,419 shares of the wireless technology company’s stock valued at $5,134,000 after purchasing an additional 1,017 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Trading Down 0.9 %

QCOM opened at $173.70 on Friday. The company’s 50 day moving average is $164.32 and its 200-day moving average is $165.67. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year 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. The company has a market cap of $192.11 billion, a P/E ratio of 18.56, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.96%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 45,964 shares of company stock worth $7,583,661 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on QCOM shares. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Melius Research started 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $205.32.

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.