United Asset Strategies Inc. Sells 3,668 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

United Asset Strategies Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,015 shares of the wireless technology company’s stock after selling 3,668 shares during the period. United Asset Strategies Inc.’s holdings in QUALCOMM were worth $1,692,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Susquehanna Fundamental Investments LLC bought a new position in QUALCOMM during the second quarter worth about $896,000. Kathmere Capital Management LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $295,000. Ascent Group LLC raised its position in shares of QUALCOMM by 13.4% in the 2nd quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 335 shares during the period. Full Sail Capital LLC boosted its stake in QUALCOMM by 24.1% during the 2nd quarter. Full Sail Capital LLC now owns 1,731 shares of the wireless technology company’s stock worth $345,000 after acquiring an additional 336 shares during the last quarter. Finally, Aviso Wealth Management grew its holdings in QUALCOMM by 844.7% during the second quarter. Aviso Wealth Management now owns 1,247 shares of the wireless technology company’s stock valued at $248,000 after purchasing an additional 1,115 shares during the period. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QCOM. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. UBS Group increased their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Finally, Citigroup lowered their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.57.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s 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 owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of QCOM opened at $172.11 on Monday. The company has a market cap of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $159.49 and its 200 day simple moving average is $167.27. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, research analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio is currently 37.82%.

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.