Sowell Financial Services LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sowell Financial Services LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 31.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,913 shares of the wireless technology company’s stock after selling 15,547 shares during the quarter. Sowell Financial Services LLC’s holdings in QUALCOMM were worth $5,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Planning Capital Management Corp boosted its stake in shares of 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 during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on QCOM. Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Melius assumed coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Up 3.3 %

Shares of QUALCOMM stock opened at $161.22 on Friday. The stock has a 50-day moving average price of $164.76 and a 200 day moving average price of $165.09. The company has a market cap of $178.31 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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 expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock valued at $7,752,423 in the last three months. Corporate insiders own 0.08% of the company’s stock.

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.