Strategic Investment Advisors MI Sells 2,455 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Investment Advisors MI decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 26.4% during the 4th quarter, Holdings Channel reports. The firm owned 6,860 shares of the wireless technology company’s stock after selling 2,455 shares during the quarter. Strategic Investment Advisors MI’s holdings in QUALCOMM were worth $1,054,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in QCOM. Granite Group Advisors LLC grew its holdings in QUALCOMM by 3.8% during the 4th quarter. Granite Group Advisors LLC now owns 14,211 shares of the wireless technology company’s stock worth $2,183,000 after acquiring an additional 524 shares during the last quarter. Tennessee Valley Asset Management Partners boosted its stake in shares of QUALCOMM by 2.0% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 10,551 shares of the wireless technology company’s stock valued at $1,621,000 after purchasing an additional 208 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of QUALCOMM by 1.8% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,597 shares of the wireless technology company’s stock valued at $1,474,000 after purchasing an additional 167 shares during the last quarter. Stablepoint Partners LLC boosted its stake in shares of QUALCOMM by 1.9% in the 4th quarter. Stablepoint Partners LLC now owns 28,870 shares of the wireless technology company’s stock valued at $4,435,000 after purchasing an additional 526 shares during the last quarter. Finally, Marshall Financial Group LLC boosted its stake in shares of QUALCOMM by 1.7% in the 4th quarter. Marshall Financial Group LLC now owns 14,039 shares of the wireless technology company’s stock valued at $2,157,000 after purchasing an additional 234 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $206.57.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM 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 $1,981,875.42. This represents a 13.67 % decrease in their position. 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 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $172.11 on Monday. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a fifty day simple moving average of $159.49 and a 200 day simple moving average of $167.56. The stock has a market capitalization of $191.21 billion, a PE ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, research analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.