Global Retirement Partners LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Global Retirement Partners LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 29,517 shares of the wireless technology company’s stock after selling 1,551 shares during the quarter. Global Retirement Partners LLC’s holdings in QUALCOMM were worth $4,534,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Reston Wealth Management LLC purchased a new stake in QUALCOMM in the 3rd quarter worth about $26,000. CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter valued at about $27,000. Planning Capital Management Corp grew its holdings 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 buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in QUALCOMM during the 3rd quarter valued at about $36,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,964 shares of company stock valued at $7,583,661. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on QCOM. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Sanford C. Bernstein lifted their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Up 0.9 %

Shares of NASDAQ:QCOM opened at $175.22 on Thursday. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The stock’s fifty day moving average price is $164.01 and its 200-day moving average price is $165.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market cap of $193.79 billion, a P/E ratio of 18.72, a PEG ratio of 1.99 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

QUALCOMM Company 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.