QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Decreased by Thrive Wealth Management LLC

Thrive Wealth Management LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,530 shares of the wireless technology company’s stock after selling 189 shares during the period. Thrive Wealth Management LLC’s holdings in QUALCOMM were worth $389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth about $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM in the 2nd quarter worth approximately $30,000. Planning Capital Management Corp lifted its stake in shares of 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 period. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter worth approximately $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $164.56 on Monday. The company’s fifty day moving average is $158.85 and its 200-day moving average is $168.82. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The firm has a market cap of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 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, topping 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 company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. Equities analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. Evercore ISI increased their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $206.57.

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.