1900 Wealth Management LLC Sells 488 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

1900 Wealth Management LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,417 shares of the wireless technology company’s stock after selling 488 shares during the quarter. 1900 Wealth Management LLC’s holdings in QUALCOMM were worth $494,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Fortitude Family Office LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $35,000. Cranbrook Wealth Management LLC increased its position in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Legacy Financial Group LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $29,000. Finally, Buck Wealth Strategies LLC purchased a new position in QUALCOMM during the 3rd quarter valued at about $40,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM traded up $1.23 during trading hours on Tuesday, reaching $161.41. 1,868,228 shares of the company’s stock traded hands, compared to its average volume of 8,538,165. The firm has a market capitalization of $180.13 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.15 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 twelve month low of $101.47 and a twelve month high of $177.59. The business’s fifty day simple moving average is $165.01 and its two-hundred day simple moving average is $143.47.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 over the last three months. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 price objective on the stock. Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Finally, Rosenblatt Securities boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $158.86.

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.