Midland Wealth Advisors LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Midland Wealth Advisors LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 6,030 shares of the wireless technology company’s stock after selling 533 shares during the period. Midland Wealth Advisors LLC’s holdings in QUALCOMM were worth $926,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. Planning Capital Management Corp raised its position 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 buying an additional 114 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at approximately $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 3.3 %

Shares of QUALCOMM stock opened at $161.22 on Monday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a 50 day moving average of $164.76 and a 200 day moving average of $165.03. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $178.31 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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 issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Loop Capital assumed coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price on the stock. Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.