Institute for Wealth Management LLC. Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Institute for Wealth Management LLC. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,681 shares of the wireless technology company’s stock after selling 163 shares during the quarter. Institute for Wealth Management LLC.’s holdings in QUALCOMM were worth $1,979,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in QCOM. Beaumont Financial Advisors LLC boosted its position in QUALCOMM by 3.3% during the 4th quarter. Beaumont Financial Advisors LLC now owns 8,523 shares of the wireless technology company’s stock worth $1,233,000 after acquiring an additional 276 shares during the period. Davidson Trust Co. boosted its position in QUALCOMM by 8.2% during the 4th quarter. Davidson Trust Co. now owns 5,562 shares of the wireless technology company’s stock worth $804,000 after acquiring an additional 423 shares during the period. HTLF Bank acquired a new position in QUALCOMM during the 4th quarter worth $388,000. Fidelis Capital Partners LLC boosted its position in QUALCOMM by 2.0% during the 4th quarter. Fidelis Capital Partners LLC now owns 11,062 shares of the wireless technology company’s stock worth $1,600,000 after acquiring an additional 216 shares during the period. Finally, Western Wealth Management LLC boosted its position in QUALCOMM by 1.0% during the 4th quarter. Western Wealth Management LLC now owns 34,391 shares of the wireless technology company’s stock worth $4,974,000 after acquiring an additional 350 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 2.6 %

Shares of QCOM traded down $4.23 during trading hours on Friday, hitting $157.21. 5,363,959 shares of the company were exchanged, compared to its average volume of 8,569,331. The company has a market cap of $175.45 billion, a PE ratio of 22.90, a PEG ratio of 2.24 and a beta of 1.41. The firm’s 50 day moving average is $164.74 and its 200-day moving average is $142.33. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 in the last 90 days. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Cantor Fitzgerald boosted their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. KeyCorp boosted their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Evercore ISI started coverage on QUALCOMM in a research report on Tuesday. They set an “in-line” rating and a $177.00 target price on the stock. TD Cowen boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Mizuho upped their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.90.

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.