Lmcg Investments LLC Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Lmcg Investments LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,109 shares of the wireless technology company’s stock after selling 219 shares during the quarter. Lmcg Investments LLC’s holdings in QUALCOMM were worth $1,092,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. HWG Holdings LP purchased a new stake in shares of QUALCOMM in the second quarter valued at $30,000. Reston Wealth Management LLC acquired a new position in QUALCOMM in the 3rd quarter valued at about $26,000. Planning Capital Management Corp lifted its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Hershey Financial Advisers LLC acquired a new stake in shares of QUALCOMM during the 2nd quarter worth about $42,000. Finally, Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the third quarter worth about $36,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on QCOM shares. Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. KeyCorp downgraded QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Sanford C. Bernstein upped their price objective 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. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $167.27 on Wednesday. The firm has a fifty day simple moving average of $158.78 and a 200-day simple moving average of $168.29. The company has a market capitalization of $185.84 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month 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.

QUALCOMM (NASDAQ:QCOM) last announced 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 return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.12 earnings per share 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 paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.