Schrum Private Wealth Management LLC Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Schrum Private Wealth Management LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,917 shares of the wireless technology company’s stock after selling 579 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in QUALCOMM were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the 4th quarter worth approximately $29,000. Planning Capital Management Corp increased its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM opened at $158.49 on Thursday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $175.29 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company has a 50 day moving average of $164.73 and a two-hundred day moving average of $165.29.

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 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%. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on QCOM shares. Susquehanna dropped their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,045 shares of company stock valued at $7,752,423 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM 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.