Sowell Financial Services LLC Sells 15,547 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sowell Financial Services LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 31.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,913 shares of the wireless technology company's stock after selling 15,547 shares during the period. Sowell Financial Services LLC's holdings in QUALCOMM were worth $5,210,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in QUALCOMM in the third quarter worth about $83,000. Leavell Investment Management Inc. lifted its holdings in QUALCOMM by 17.7% in the third quarter. Leavell Investment Management Inc. now owns 23,229 shares of the wireless technology company's stock worth $3,950,000 after purchasing an additional 3,495 shares during the period. Equitable Trust Co. lifted its holdings in QUALCOMM by 31.0% in the third quarter. Equitable Trust Co. now owns 16,378 shares of the wireless technology company's stock worth $2,785,000 after purchasing an additional 3,874 shares during the period. CWA Asset Management Group LLC acquired a new stake in QUALCOMM in the third quarter worth about $13,449,000. Finally, Crumly & Associates Inc. lifted its holdings in QUALCOMM by 121.7% in the third quarter. Crumly & Associates Inc. now owns 3,432 shares of the wireless technology company's stock worth $584,000 after purchasing an additional 1,884 shares during the period. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now owns 59,778 shares of the company's stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the sale, the general counsel now directly owns 17,153 shares of the company's stock, valued at $2,754,600.27. The trade was a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock valued at $7,752,423 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

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QUALCOMM Stock Down 3.9 %

NASDAQ:QCOM traded down $6.24 during mid-day trading on Monday, reaching $154.98. The stock had a trading volume of 10,103,822 shares, compared to its average volume of 8,304,808. The business's 50 day moving average is $164.77 and its 200 day moving average is $164.93. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The stock has a market cap of $171.41 billion, a P/E ratio of 16.56, 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.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts' consensus estimates 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, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.19%. QUALCOMM's payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QCOM. StockNews.com raised shares of QUALCOMM from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 4th. Evercore ISI cut their price target on shares of 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 shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

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.