Benedict Financial Advisors Inc. Sells 424 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Benedict Financial Advisors Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,549 shares of the wireless technology company’s stock after selling 424 shares during the quarter. QUALCOMM comprises approximately 1.5% of Benedict Financial Advisors Inc.’s holdings, making the stock its 17th largest holding. Benedict Financial Advisors Inc.’s holdings in QUALCOMM were worth $6,383,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter valued at about $27,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in QUALCOMM in the 3rd quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QUALCOMM stock opened at $167.96 on Friday. QUALCOMM Incorporated has a 1 year low of $146.29 and a 1 year high of $230.63. The company’s 50-day moving average is $162.15 and its two-hundred day moving average is $165.86. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The company has a market cap of $185.76 billion, a PE ratio of 17.94, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its 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 return on equity of 39.51% and a net margin of 25.94%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

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 paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,981 shares of company stock worth $4,000,870. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on QCOM. Loop Capital began coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday. Melius initiated coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday. One equities 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus 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.