Shulman DeMeo Asset Management LLC Sells 1,623 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Shulman DeMeo Asset Management LLC lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,931 shares of the wireless technology company's stock after selling 1,623 shares during the period. QUALCOMM accounts for 0.5% of Shulman DeMeo Asset Management LLC's portfolio, making the stock its 16th largest holding. Shulman DeMeo Asset Management LLC's holdings in QUALCOMM were worth $1,987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of QCOM. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,702.6% in 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 buying an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of QUALCOMM by 17,357.3% in 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 acquiring an additional 2,919,490 shares during the period. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Van ECK Associates Corp increased its position in 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 worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. Finally, Two Sigma Advisers LP raised its stake in QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock valued at $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

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

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $9.90 billion. As a group, equities research analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM's payout ratio is 37.82%.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company's stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now owns 19,739 shares of the company's stock, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on QCOM shares. Wells Fargo & Company boosted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a report on Thursday, November 7th. Benchmark restated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an "equal weight" rating for the company in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, November 5th. Finally, UBS Group upped their target price on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $206.57.

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.