Annex Advisory Services LLC Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Annex Advisory Services LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,620 shares of the wireless technology company’s stock after selling 930 shares during the quarter. Annex Advisory Services LLC’s holdings in QUALCOMM were worth $3,782,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. HWG Holdings LP bought a new position in shares of QUALCOMM during the second quarter valued at $30,000. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at about $26,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in QUALCOMM in the second quarter worth about $42,000. Finally, Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter worth approximately $36,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Finally, Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 in the last 90 days. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $164.56 on Monday. The stock has a 50-day moving average price of $158.85 and a 200 day moving average price of $168.82. The stock 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 Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared 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 2.07%. QUALCOMM’s payout ratio is currently 37.82%.

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.