QUALCOMM Incorporated (NASDAQ:QCOM) Stake Lowered by Stockman Wealth Management Inc.

Stockman Wealth Management Inc. reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,355 shares of the wireless technology company’s stock after selling 365 shares during the period. Stockman Wealth Management Inc.’s holdings in QUALCOMM were worth $976,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $27,000. Planning Capital Management Corp lifted its stake in shares of 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 purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. This represents a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,981 shares of company stock worth $4,000,870. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday. Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday. Finally, Barclays cut their target price on shares of 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 issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $167.96 on Friday. 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 stock has a market capitalization of $185.76 billion, a price-to-earnings ratio of 17.94, a P/E/G ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $146.29 and a 1-year high of $230.63. The firm’s 50-day moving average price is $162.15 and its two-hundred day moving average price is $165.86.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.02%. QUALCOMM’s dividend payout ratio is 36.32%.

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.