Biltmore Family Office LLC Sells 400 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Biltmore Family Office LLC trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,897 shares of the wireless technology company’s stock after selling 400 shares during the quarter. Biltmore Family Office LLC’s holdings in QUALCOMM were worth $2,288,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $26,000. CKW Financial Group bought a new stake in QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM in the 4th quarter valued at $33,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.7 %

Shares of QUALCOMM stock opened at $154.08 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $147.88 and a twelve month high of $230.63. The company has a market cap of $170.41 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company’s 50 day moving average is $163.33 and its 200 day moving average is $163.57.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.21%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction 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 transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $205.32.

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.