Frank Rimerman Advisors LLC Sells 5,731 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Frank Rimerman Advisors LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 38.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,303 shares of the wireless technology company's stock after selling 5,731 shares during the period. Frank Rimerman Advisors LLC's holdings in QUALCOMM were worth $1,429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Harrington Investments INC boosted its holdings in shares of QUALCOMM by 0.4% during the 4th quarter. Harrington Investments INC now owns 22,727 shares of the wireless technology company's stock worth $3,491,000 after buying an additional 89 shares in the last quarter. Van Strum & Towne Inc. grew its holdings in QUALCOMM by 26.2% in the fourth quarter. Van Strum & Towne Inc. now owns 16,847 shares of the wireless technology company's stock worth $2,588,000 after purchasing an additional 3,500 shares during the period. Greykasell Wealth Strategies Inc. bought a new stake in QUALCOMM in the fourth quarter valued at $631,000. Buckley Wealth Management LLC increased its stake in QUALCOMM by 13.5% in the fourth quarter. Buckley Wealth Management LLC now owns 7,290 shares of the wireless technology company's stock valued at $1,120,000 after purchasing an additional 869 shares in the last quarter. Finally, United Capital Management of KS Inc. boosted its position in shares of QUALCOMM by 3.0% during the 4th quarter. United Capital Management of KS Inc. now owns 9,553 shares of the wireless technology company's stock worth $1,468,000 after purchasing an additional 282 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages recently commented on QCOM. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI cut their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Susquehanna decreased their target price on shares of QUALCOMM from $230.00 to $210.00 and set a "positive" rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QCOM traded up $1.37 during midday trading on Monday, hitting $157.95. 5,780,967 shares of the company traded hands, compared to its average volume of 8,215,244. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The firm has a market cap of $174.69 billion, a P/E ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock has a 50-day moving average of $164.68 and a 200-day moving average of $164.40.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.15%. QUALCOMM's dividend payout ratio is presently 36.32%.

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.