Independent Wealth Network Inc. Sells 66 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Independent Wealth Network Inc. lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,376 shares of the wireless technology company’s stock after selling 66 shares during the period. Independent Wealth Network Inc.’s holdings in QUALCOMM were worth $211,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Paulson Wealth Management Inc. lifted its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after buying an additional 61 shares during the period. Blossom Wealth Management lifted its stake in 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 acquiring an additional 64 shares during the period. Delta Financial Advisors LLC grew its holdings in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after acquiring an additional 65 shares in the last quarter. Muirfield Wealth Advisors LLC increased its position in QUALCOMM by 3.1% during the 3rd quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after purchasing an additional 66 shares during the period. Finally, Invst LLC raised its holdings in shares of 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 purchasing an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $174.36 on Friday. The company’s 50-day moving average is $159.05 and its two-hundred day moving average is $168.04. 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. The firm has a market capitalization of $193.71 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.79 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $9.90 billion. Analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.95%. QUALCOMM’s payout ratio is currently 37.82%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QCOM. Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Mizuho dropped their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $206.57.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last 90 days. 0.08% of the stock is owned by company insiders.

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.