QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by WESPAC Advisors LLC

WESPAC Advisors LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 46.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,841 shares of the wireless technology company’s stock after selling 5,968 shares during the period. WESPAC Advisors LLC’s holdings in QUALCOMM were worth $1,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Nordea Investment Management AB lifted its holdings 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 buying an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $2,058,000. Burney Co. raised its holdings in 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 in the last quarter. Finally, Howard Bailey Securities LLC acquired a new stake in QUALCOMM in the fourth quarter valued at $240,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value 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 represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $165.43 on Friday. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The firm has a market capitalization of $182.97 billion, a PE ratio of 17.67, a P/E/G ratio of 2.01 and a beta of 1.25. The company’s 50 day simple moving average is $164.46 and its 200 day simple moving average is $165.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on QCOM shares. Sanford C. Bernstein upped their target price 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. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.