Frank Rimerman Advisors LLC Decreases Stock Holdings in 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 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,303 shares of the wireless technology company's stock after selling 5,731 shares during the quarter. Frank Rimerman Advisors LLC's holdings in QUALCOMM were worth $1,429,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QCOM. TBH Global Asset Management LLC grew its position in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after acquiring an additional 63 shares during the last quarter. CFS Investment Advisory Services LLC boosted its stake in QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after purchasing an additional 65 shares during the period. Toth Financial Advisory Corp grew its position in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock worth $336,000 after purchasing an additional 65 shares during the last quarter. Pettyjohn Wood & White Inc. raised its holdings in shares of QUALCOMM by 2.9% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company's stock valued at $371,000 after buying an additional 67 shares during the last quarter. Finally, First City Capital Management Inc. boosted its stake in shares of QUALCOMM by 1.3% during the third quarter. First City Capital Management Inc. now owns 5,507 shares of the wireless technology company's stock worth $936,000 after buying an additional 68 shares during the period. Institutional investors own 74.35% of the company's stock.

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Analysts Set New Price Targets

Several brokerages recently issued reports on QCOM. Benchmark restated a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective on the stock. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Finally, Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM has an average rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $1.49 on Tuesday, hitting $156.46. The company had a trading volume of 3,572,534 shares, compared to its average volume of 8,218,051. The company has a market cap of $173.04 billion, a PE ratio of 16.72, a PEG ratio of 2.01 and a beta of 1.28. The business has a 50 day moving average of $164.64 and a 200 day moving average of $164.32. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released 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 return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 in the last quarter. 0.08% of the stock is currently owned by company insiders.

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.