QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Allworth Financial LP

Allworth Financial LP decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,996 shares of the wireless technology company's stock after selling 7,569 shares during the quarter. Allworth Financial LP's holdings in QUALCOMM were worth $8,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the third quarter worth $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the fourth quarter worth $27,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the third 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 purchased a new position in shares of QUALCOMM during the third quarter worth $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on QCOM. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an "underweight" rating in a report on Thursday, November 7th. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Susquehanna cut their price target on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Stock Performance

QCOM stock traded down $1.52 during 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 firm has a market cap of $192.11 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63. The firm has a 50-day moving average price of $164.01 and a 200-day moving average price of $165.61. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

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

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was 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 approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company's stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 45,964 shares of company stock valued at $7,583,661. Corporate insiders own 0.08% of the company's stock.

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.