Jessup Wealth Management Inc Sells 90 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Jessup Wealth Management Inc trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,969 shares of the wireless technology company’s stock after selling 90 shares during the period. Jessup Wealth Management Inc’s holdings in QUALCOMM were worth $763,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Sanford C. Bernstein raised 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, Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Up 0.9 %

QUALCOMM stock opened at $175.22 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s 50 day moving average price is $164.01 and its 200-day moving average price is $165.61. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The stock has a market cap of $193.79 billion, a P/E ratio of 18.72, a PEG ratio of 1.99 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares in the company, valued at approximately $10,716,927. The trade was a 4.54 % 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, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock worth $7,583,661 in the last quarter. 0.08% of the stock is owned by corporate insiders.

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.