IHT Wealth Management LLC Sells 7,828 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

IHT Wealth Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 25.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,819 shares of the wireless technology company's stock after selling 7,828 shares during the quarter. IHT Wealth Management LLC's holdings in QUALCOMM were worth $3,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Te Ahumairangi Investment Management Ltd boosted its position in shares of QUALCOMM by 60.9% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 37,551 shares of the wireless technology company's stock worth $6,349,000 after purchasing an additional 14,213 shares in the last quarter. Anchor Investment Management LLC raised its stake in QUALCOMM by 2.2% in the third quarter. Anchor Investment Management LLC now owns 34,700 shares of the wireless technology company's stock valued at $5,901,000 after buying an additional 747 shares during the last quarter. World Investment Advisors LLC grew its stake in shares of QUALCOMM by 304.0% during the third quarter. World Investment Advisors LLC now owns 45,166 shares of the wireless technology company's stock worth $7,680,000 after acquiring an additional 33,985 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of QUALCOMM by 620.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 55,668 shares of the wireless technology company's stock valued at $9,466,000 after acquiring an additional 47,945 shares in the last quarter. Finally, Optimist Retirement Group LLC raised its position in shares of QUALCOMM by 4.1% in the 3rd quarter. Optimist Retirement Group LLC now owns 13,579 shares of the wireless technology company's stock valued at $2,309,000 after purchasing an additional 531 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 4.8 %

Shares of NASDAQ:QCOM traded up $6.75 during mid-day trading on Thursday, reaching $147.21. The stock had a trading volume of 8,803,543 shares, compared to its average volume of 8,894,928. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve 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. The firm has a market cap of $162.81 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm has a 50 day simple moving average of $151.11 and a two-hundred day simple moving average of $159.77.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 2.42%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 648 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $141.11, for a total transaction of $91,439.28. Following the sale, the chief financial officer now directly owns 56,445 shares in the company, valued at approximately $7,964,953.95. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,666 shares of company stock valued at $5,047,052. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on QCOM. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, January 7th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reissued a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $201.21.

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.