Avidian Wealth Solutions LLC Sells 234 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Avidian Wealth Solutions LLC lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,112 shares of the wireless technology company’s stock after selling 234 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in QUALCOMM were worth $739,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Lindbrook Capital LLC increased its holdings in QUALCOMM by 17.8% during the third quarter. Lindbrook Capital LLC now owns 4,555 shares of the wireless technology company’s stock worth $506,000 after buying an additional 688 shares during the last quarter. GPS Wealth Strategies Group LLC raised its holdings in shares of QUALCOMM by 4.7% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 6,045 shares of the wireless technology company’s stock valued at $671,000 after purchasing an additional 269 shares during the period. Oak Asset Management LLC lifted its stake in QUALCOMM by 0.5% in the 3rd quarter. Oak Asset Management LLC now owns 66,632 shares of the wireless technology company’s stock valued at $7,400,000 after purchasing an additional 352 shares during the last quarter. Access Financial Services Inc. grew its holdings in QUALCOMM by 1.4% during the third quarter. Access Financial Services Inc. now owns 16,520 shares of the wireless technology company’s stock worth $1,835,000 after purchasing an additional 225 shares during the period. Finally, Calamos Wealth Management LLC increased its position in QUALCOMM by 12.9% during the third quarter. Calamos Wealth Management LLC now owns 2,207 shares of the wireless technology company’s stock worth $245,000 after buying an additional 252 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $1.49 on Monday, reaching $181.13. 3,170,506 shares of the stock were exchanged, compared to its average volume of 8,690,396. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The firm has a market cap of $202.14 billion, a PE ratio of 24.38, a P/E/G ratio of 2.27 and a beta of 1.33. The firm’s 50 day moving average is $167.69 and its 200-day moving average is $147.08. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $183.19.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.88%. QUALCOMM’s dividend payout ratio is presently 43.01%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,260 shares of company stock valued at $7,429,728. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. Mizuho raised their price objective on QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI assumed coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Citigroup increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday. Wolfe Research lifted their target price on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, TD Cowen upped their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

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.