Venturi Wealth Management LLC Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Venturi Wealth Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,629 shares of the wireless technology company's stock after selling 2,211 shares during the quarter. Venturi Wealth Management LLC's holdings in QUALCOMM were worth $12,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the 4th quarter valued at $27,000. Planning Capital Management Corp raised its holdings in 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 last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter valued at $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on QCOM shares. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Evercore ISI decreased their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Benchmark restated a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM traded down $8.27 during trading on Friday, hitting $165.43. 12,520,589 shares of the company's stock traded hands, compared to its average volume of 7,784,163. The stock has a market capitalization of $182.97 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business has a 50 day moving average of $164.46 and a 200-day moving average of $165.72. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

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

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction dated 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 owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by corporate insiders.

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.