FLC Capital Advisors Sells 2,002 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

FLC Capital Advisors lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,948 shares of the wireless technology company’s stock after selling 2,002 shares during the period. FLC Capital Advisors’ holdings in QUALCOMM were worth $1,375,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Nordea Investment Management AB boosted its stake in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth about $2,058,000. Burney Co. boosted its position in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares during the period. Wedge Capital Management L L P NC grew its stake in QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after acquiring an additional 51,879 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after acquiring an additional 18,315 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 in the last three months. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on QCOM. Citigroup decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Finally, Loop Capital began coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Price Performance

QCOM stock opened at $164.56 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The firm has a 50-day moving average of $158.85 and a 200 day moving average of $168.82. The company has a market cap of $182.83 billion, a P/E ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

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.