Transcend Capital Advisors LLC Sells 680 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Transcend Capital Advisors LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% during the 4th quarter, HoldingsChannel reports. The fund owned 12,014 shares of the wireless technology company’s stock after selling 680 shares during the quarter. Transcend Capital Advisors LLC’s holdings in QUALCOMM were worth $1,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Planning Capital Management Corp raised its holdings in shares of QUALCOMM by 137.3% in the third 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. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on QCOM shares. 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 target on the stock. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note 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 given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Price Performance

QUALCOMM stock opened at $165.43 on Friday. The company has a market capitalization of $182.97 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.03 and a beta of 1.25. 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 12 month low of $149.43 and a 12 month high of $230.63. The stock’s 50 day moving average is $164.46 and its 200-day moving average is $165.72.

QUALCOMM (NASDAQ:QCOM) last posted 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%. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm 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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was 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 in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % 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 744 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock worth $7,713,734 in the last quarter. 0.08% of the stock is currently 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.