IFG Advisory LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

IFG Advisory LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,713 shares of the wireless technology company’s stock after selling 139 shares during the quarter. IFG Advisory LLC’s holdings in QUALCOMM were worth $1,116,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. bought a new stake in shares of QUALCOMM in the 3rd quarter worth about $26,000. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Milestone Investment Advisors LLC bought a new stake in QUALCOMM in the first quarter valued at about $26,000. Pacifica Partners Inc. raised its stake in QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Finally, Legacy Financial Group LLC bought a new position in QUALCOMM during the 3rd quarter worth approximately $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the transaction, the chief executive officer now directly owns 16,200 shares in the company, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares in the company, valued at approximately $2,747,520. The disclosure for this sale can be found here. Insiders sold a total of 34,360 shares of company stock valued at $5,457,048 over the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QCOM. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Mizuho increased their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research report on Monday, March 4th. Finally, Barclays upped their price objective on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.71.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $169.13 on Thursday. The stock has a market cap of $188.75 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.28 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The stock’s 50 day moving average price is $157.05 and its 200 day moving average price is $135.64.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s payout ratio is currently 46.38%.

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.