Colton Groome Financial Advisors LLC Sells 3,571 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Colton Groome Financial Advisors LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 35.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,439 shares of the wireless technology company’s stock after selling 3,571 shares during the quarter. Colton Groome Financial Advisors LLC’s holdings in QUALCOMM were worth $989,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $38,000. Institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred 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 of the company’s stock, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The stock was 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 directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. 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. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on QCOM shares. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Evercore ISI increased their price target on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a 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 note on Tuesday, January 7th. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Stock Up 0.7 %

QCOM opened at $172.86 on Thursday. The company has a 50 day moving average of $159.76 and a 200 day moving average of $166.85. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The company has a market cap of $192.05 billion, a PE ratio of 19.21, a price-to-earnings-growth 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.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.90 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current 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 issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 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.