Philip James Wealth Mangement LLC Sells 4,774 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Philip James Wealth Mangement LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 159,399 shares of the wireless technology company's stock after selling 4,774 shares during the period. QUALCOMM makes up about 3.2% of Philip James Wealth Mangement LLC's holdings, making the stock its 4th biggest holding. Philip James Wealth Mangement LLC's holdings in QUALCOMM were worth $24,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company's stock valued at $542,688,000 after purchasing an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of QUALCOMM by 17,357.3% during the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company's stock valued at $499,320,000 after buying an additional 2,919,490 shares during the period. Geode Capital Management LLC increased its stake in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after buying an additional 1,989,725 shares during the period. Van ECK Associates Corp raised its holdings in shares of QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company's stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in QUALCOMM by 202.6% in the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock worth $350,626,000 after acquiring an additional 1,380,500 shares during the period. Institutional investors own 74.35% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of a number of research reports. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.32.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company'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 $1,239,273.03. Following the completion of the sale, the general counsel now directly owns 17,153 shares of the company's stock, valued at $2,754,600.27. This represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,964 shares of company stock valued at $7,583,661 over the last ninety days. Insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock traded down $1.52 during mid-day trading on Thursday, hitting $173.70. The company had a trading volume of 6,309,748 shares, compared to its average volume of 7,640,596. The company has a market capitalization of $192.11 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $148.90 and a 12-month high of $230.63. The company's fifty day moving average is $164.01 and its 200-day moving average is $165.61. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted 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%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.96%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

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.