Alpha Cubed Investments LLC Has $22.19 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Alpha Cubed Investments LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,412 shares of the wireless technology company’s stock after selling 6,462 shares during the quarter. Alpha Cubed Investments LLC’s holdings in QUALCOMM were worth $22,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Clear Harbor Asset Management LLC lifted its holdings in shares of QUALCOMM by 28.3% in the 4th quarter. Clear Harbor Asset Management LLC now owns 14,347 shares of the wireless technology company’s stock worth $2,204,000 after purchasing an additional 3,162 shares in the last quarter. First United Bank & Trust lifted its stake in shares of QUALCOMM by 52.6% in the fourth quarter. First United Bank & Trust now owns 1,785 shares of the wireless technology company’s stock valued at $274,000 after buying an additional 615 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of QUALCOMM by 8.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 375,618 shares of the wireless technology company’s stock valued at $57,703,000 after buying an additional 30,374 shares during the last quarter. Ballentine Partners LLC increased its position in shares of QUALCOMM by 4.5% during the fourth quarter. Ballentine Partners LLC now owns 26,822 shares of the wireless technology company’s stock worth $4,120,000 after acquiring an additional 1,160 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its position in QUALCOMM by 6.9% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 3,256 shares of the wireless technology company’s stock valued at $500,000 after acquiring an additional 211 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.9 %

Shares of QCOM stock opened at $164.56 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The business has a 50-day moving average of $158.78 and a 200 day moving average of $168.29. The stock has a market capitalization of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.75 and a beta of 1.25. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted 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 company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.12 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % 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 worth $4,314,649 in the last three months. 0.08% of the stock is owned by corporate insiders.

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.