FLC Capital Advisors Sells 2,002 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

FLC Capital Advisors lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in QUALCOMM in the third quarter worth about $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Planning Capital Management Corp lifted 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 worth $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in QUALCOMM in the third quarter valued at $36,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM during the third quarter valued at $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction 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 directly owns 19,739 shares of the company's stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % 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 in the last quarter. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on QCOM. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. 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 report on Tuesday, November 5th. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective for the company. Melius Research began 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. Finally, Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. One equities 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 given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.57.

QUALCOMM Stock Up 1.9 %

QCOM stock traded up $3.13 during midday trading on Monday, hitting $164.56. The company's stock had a trading volume of 8,063,912 shares, compared to its average volume of 6,526,932. 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 company's fifty day moving average price is $158.85 and its 200 day moving average price is $168.57. The stock has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts' consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current 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 paid 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 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.