Alhambra Investment Management LLC Has $1.72 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Alhambra Investment Management LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,219 shares of the wireless technology company’s stock after selling 352 shares during the quarter. QUALCOMM comprises 0.9% of Alhambra Investment Management LLC’s holdings, making the stock its 28th largest holding. Alhambra Investment Management LLC’s holdings in QUALCOMM were worth $1,723,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Paulson Wealth Management Inc. grew its holdings in shares of QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares during the last quarter. Blossom Wealth Management raised its stake in shares of QUALCOMM by 2.6% in the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 64 shares during the last quarter. Delta Financial Advisors LLC lifted its holdings in shares of QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares in the last quarter. Muirfield Wealth Advisors LLC boosted its position in shares of QUALCOMM by 3.1% during the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after buying an additional 66 shares during the last quarter. Finally, Invst LLC raised its position in QUALCOMM by 2.9% in the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock valued at $473,000 after buying an additional 67 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.9 %

Shares of NASDAQ QCOM opened at $164.56 on Friday. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 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. The firm has a fifty day simple moving average of $158.98 and a two-hundred day simple moving average of $169.28. The firm has a market capitalization of $182.83 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.90 billion. Equities analysts expect that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on QCOM shares. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Mizuho decreased their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Sanford C. Bernstein upped their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Evercore ISI boosted their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % 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 worth $4,314,649. Corporate insiders own 0.08% of the company’s stock.

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.