Schechter Investment Advisors LLC Sells 1,485 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Schechter Investment Advisors LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,972 shares of the wireless technology company’s stock after selling 1,485 shares during the quarter. Schechter Investment Advisors LLC’s holdings in QUALCOMM were worth $1,008,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. DHJJ Financial Advisors Ltd. purchased a new position in shares of QUALCOMM during the third quarter valued at about $26,000. Financial Gravity Asset Management Inc. grew its position in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares in the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of QUALCOMM during the first quarter valued at about $26,000. Pacifica Partners Inc. grew its position in shares of QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after purchasing an additional 150 shares in the last quarter. Finally, Legacy Financial Group LLC purchased a new position in shares of QUALCOMM during the third quarter valued at about $29,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research analyst reports. Rosenblatt Securities raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. TD Cowen raised their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Monday, March 4th. Canaccord Genuity Group lifted their price target on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Finally, JPMorgan Chase & Co. dropped their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.71.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $169.13 on Thursday. The business’s fifty day simple moving average is $157.05 and its 200-day simple moving average is $135.64. The company has a market cap of $188.75 billion, a PE ratio of 24.51, a PEG ratio of 2.28 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,360 shares of company stock worth $5,457,048. Company 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.