QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by New Insight Wealth Advisors

New Insight Wealth Advisors cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,880 shares of the wireless technology company’s stock after selling 70 shares during the quarter. New Insight Wealth Advisors’ holdings in QUALCOMM were worth $289,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. CKW Financial Group purchased a new position in QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Planning Capital Management Corp boosted its stake 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 worth $34,000 after acquiring an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the 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 owns 59,778 shares in the company, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % 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 valued at $7,752,423. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on QCOM shares. Evercore ISI lowered their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Barclays dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $161.22 on Monday. The business’s fifty day moving average price is $164.76 and its 200 day moving average price is $165.03. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $178.31 billion, a P/E ratio of 17.22, a PEG 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 for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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

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.