Braun Bostich & Associates Inc. Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Braun Bostich & Associates Inc. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,644 shares of the wireless technology company’s stock after selling 134 shares during the quarter. Braun Bostich & Associates Inc.’s holdings in QUALCOMM were worth $253,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of QCOM. Paulson Wealth Management Inc. grew its position in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after purchasing an additional 61 shares during the last quarter. Blossom Wealth Management grew its holdings in shares of QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares during the last quarter. Delta Financial Advisors LLC grew its holdings in shares of QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares during the last quarter. Muirfield Wealth Advisors LLC raised its stake in QUALCOMM by 3.1% during the 3rd quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after acquiring an additional 66 shares during the last quarter. Finally, Invst LLC lifted its position in QUALCOMM by 2.9% during the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QCOM. Evercore ISI boosted their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Mizuho cut their price objective 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. Morgan Stanley reduced their target price on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Stock Up 1.6 %

QCOM opened at $167.27 on Wednesday. The business’s fifty day simple moving average is $158.78 and its 200 day simple moving average is $168.29. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The firm has a market cap of $185.84 billion, a P/E ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 2.03%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 over the last quarter. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.