Alpha Cubed Investments LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Alpha Cubed Investments LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 144,412 shares of the wireless technology company’s stock after selling 6,462 shares during the quarter. Alpha Cubed Investments LLC’s holdings in QUALCOMM were worth $22,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in QCOM. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter worth $30,000. Reston Wealth Management LLC bought a new stake in QUALCOMM during the third quarter worth approximately $26,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% during the third 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 period. Hershey Financial Advisers LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at approximately $42,000. Finally, Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM opened at $164.56 on Tuesday. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The stock has a fifty day moving average price of $158.78 and a 200-day moving average price of $168.29. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market cap of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.75 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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 business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts predict that QUALCOMM Incorporated will post 9.12 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Citigroup decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Finally, Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.57.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last quarter. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Company 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.