Wealthfront Advisers LLC Sells 49,765 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wealthfront Advisers LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 49.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,749 shares of the wireless technology company's stock after selling 49,765 shares during the period. Wealthfront Advisers LLC's holdings in QUALCOMM were worth $7,950,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of QCOM. Apollon Wealth Management LLC increased its position in QUALCOMM by 6.2% during the third quarter. Apollon Wealth Management LLC now owns 30,409 shares of the wireless technology company's stock worth $5,171,000 after buying an additional 1,772 shares during the period. GSA Capital Partners LLP acquired a new stake in QUALCOMM in the third quarter valued at $1,598,000. WealthPLAN Partners LLC raised its position in QUALCOMM by 16.8% during the third quarter. WealthPLAN Partners LLC now owns 1,909 shares of the wireless technology company's stock worth $325,000 after acquiring an additional 275 shares during the last quarter. Savvy Advisors Inc. lifted its stake in QUALCOMM by 213.0% in the 3rd quarter. Savvy Advisors Inc. now owns 4,084 shares of the wireless technology company's stock valued at $694,000 after buying an additional 2,779 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of QUALCOMM during the third quarter valued at $801,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM 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 directly owns 19,739 shares of the company's stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,555 shares of company stock valued at $5,094,134 over the last three months. Insiders own 0.08% of the company's stock.

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QUALCOMM Stock Performance

Shares of QCOM traded down $0.86 during midday trading on Thursday, hitting $151.94. 5,834,592 shares of the stock traded hands, compared to its average volume of 8,293,324. The business's 50 day moving average price is $164.70 and its two-hundred day moving average price is $164.61. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The firm has a market capitalization of $168.05 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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 return on equity of 39.51% and a net margin of 25.94%. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on QCOM shares. Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Susquehanna decreased their price target 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. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. Finally, Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.