Westside Investment Management Inc. Sells 153 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Westside Investment Management Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,207 shares of the wireless technology company’s stock after selling 153 shares during the quarter. Westside Investment Management Inc.’s holdings in QUALCOMM were worth $3,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new stake in QUALCOMM in the 3rd quarter valued at $26,000. HWG Holdings LP bought a new stake in shares of QUALCOMM in the second quarter valued at about $30,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM during the third quarter worth about $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in QUALCOMM in the 3rd quarter worth about $39,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 20th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average 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 on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of QCOM opened at $171.52 on Wednesday. The business has a 50-day moving average of $158.86 and a 200-day moving average of $168.02. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company has a market capitalization of $190.56 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25. 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 issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.12 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 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.