Colton Groome Financial Advisors LLC Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Colton Groome Financial Advisors LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 35.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,439 shares of the wireless technology company's stock after selling 3,571 shares during the period. Colton Groome Financial Advisors LLC's holdings in QUALCOMM were worth $989,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nordea Investment Management AB lifted its position in 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 shares of QUALCOMM in the 4th quarter valued at $2,058,000. Burney Co. grew its position in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of QUALCOMM by 17.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock valued at $60,264,000 after buying an additional 51,879 shares during the last quarter. Finally, Icon Wealth Advisors LLC lifted its holdings in QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company's stock worth $5,643,000 after buying an additional 18,315 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a research report on Thursday, November 7th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. UBS Group upped their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, November 5th. Finally, Citigroup lowered their price target 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. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.57.

QUALCOMM Stock Up 0.1 %

Shares of QUALCOMM stock traded up $0.22 during trading on Thursday, reaching $171.93. 5,923,358 shares of the company traded hands, compared to its average volume of 7,468,792. The company has a 50 day moving average price of $160.11 and a 200-day moving average price of $166.88. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The firm has a market capitalization of $191.01 billion, a PE ratio of 19.12, a P/E/G ratio of 2.84 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.98%. QUALCOMM's dividend payout ratio (DPR) is 37.82%.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on 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 in the company, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares of the company's stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. 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 in the last ninety days. 0.08% of the stock is currently owned by insiders.

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.