Ritholtz Wealth Management Sells 303 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ritholtz Wealth Management reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,738 shares of the wireless technology company’s stock after selling 303 shares during the quarter. Ritholtz Wealth Management’s holdings in QUALCOMM were worth $2,879,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of QCOM. Pacer Advisors Inc. lifted its holdings in shares of QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after acquiring an additional 3,014,302 shares during the last quarter. International Assets Investment Management LLC raised its position in QUALCOMM by 17,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after purchasing an additional 2,919,490 shares during the period. Geode Capital Management LLC lifted its stake in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Van ECK Associates Corp boosted its position in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares during the period. Finally, Two Sigma Advisers LP grew its stake in shares of QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after buying an additional 1,380,500 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QCOM opened at $164.56 on Friday. The stock has a 50-day moving average price of $158.98 and a 200-day moving average price of $169.28. The firm has a market cap of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

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 firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent research reports. UBS Group boosted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Finally, Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity

In other QUALCOMM news, 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 transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 over the last three months. Insiders own 0.08% of the company’s stock.

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.