Balboa Wealth Partners Sells 2,394 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Balboa Wealth Partners trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,518 shares of the wireless technology company’s stock after selling 2,394 shares during the quarter. Balboa Wealth Partners’ holdings in QUALCOMM were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. HBK Sorce Advisory LLC raised its position in QUALCOMM by 0.3% in the 4th quarter. HBK Sorce Advisory LLC now owns 20,842 shares of the wireless technology company’s stock valued at $3,202,000 after purchasing an additional 72 shares during the last quarter. Achmea Investment Management B.V. increased its stake in shares of QUALCOMM by 6.9% in the fourth quarter. Achmea Investment Management B.V. now owns 211,898 shares of the wireless technology company’s stock valued at $32,552,000 after buying an additional 13,674 shares in the last quarter. Tredje AP fonden increased its stake in shares of QUALCOMM by 97.9% in the fourth quarter. Tredje AP fonden now owns 291,972 shares of the wireless technology company’s stock valued at $44,853,000 after buying an additional 144,439 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of QUALCOMM by 12.3% in the fourth quarter. Avantax Advisory Services Inc. now owns 65,802 shares of the wireless technology company’s stock valued at $10,109,000 after buying an additional 7,197 shares during the last quarter. Finally, Essential Planning LLC. acquired a new position in QUALCOMM during the 4th quarter worth about $3,780,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of several research reports. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Finally, Evercore ISI dropped their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 30,555 shares of company stock worth $5,094,134. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM opened at $152.80 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $169.00 billion, a PE ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The stock has a 50 day simple moving average of $164.74 and a 200 day simple moving average of $164.70. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results 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 net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given 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 dividend yield of 2.23%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.