Park Avenue Securities LLC Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Park Avenue Securities LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,091 shares of the wireless technology company's stock after selling 2,101 shares during the period. Park Avenue Securities LLC's holdings in QUALCOMM were worth $4,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the third quarter worth about $26,000. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter valued at approximately $30,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the third quarter worth $39,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Benchmark reaffirmed a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 5th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Melius Research initiated coverage on shares of QUALCOMM in a 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average price target of $206.57.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of the business's stock in a transaction on 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 sale, the insider now owns 33,383 shares of the company's stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly 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 have sold a total of 26,882 shares of company stock worth $4,314,649 over the last quarter. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Up 1.9 %

Shares of NASDAQ QCOM traded up $3.13 during trading on Friday, reaching $164.56. The company had a trading volume of 8,063,912 shares, compared to its average volume of 7,168,905. The business's 50-day moving average is $158.98 and its 200 day moving average is $169.28. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a market cap of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its 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. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.07%. QUALCOMM's dividend payout ratio is presently 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.