GHP Investment Advisors Inc. Sells 78 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

GHP Investment Advisors Inc. decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 691 shares of the wireless technology company’s stock after selling 78 shares during the quarter. GHP Investment Advisors Inc.’s holdings in QUALCOMM were worth $106,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $27,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $38,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday. Sanford C. Bernstein lifted their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Loop Capital assumed coverage on shares of QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Finally, Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

QCOM stock opened at $167.96 on Friday. The firm has a market capitalization of $186.60 billion, a P/E ratio of 18.68, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $146.29 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $161.96 and a two-hundred day simple moving average of $166.04.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. QUALCOMM’s payout ratio is 37.82%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock valued at $4,000,870 in the last three months. Company insiders own 0.08% of the company’s stock.

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.