QUALCOMM Incorporated (NASDAQ:QCOM) Position Cut by Waterfront Wealth Inc.

Waterfront Wealth Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 53.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,849 shares of the wireless technology company’s stock after selling 2,087 shares during the period. Waterfront Wealth Inc.’s holdings in QUALCOMM were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. lifted its position in shares of QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM during the 4th quarter valued at $35,000. Pacific Center for Financial Services acquired a new stake in shares of QUALCOMM during the 1st quarter valued at $31,000. Finally, Cranbrook Wealth Management LLC lifted its position in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 1.8 %

QUALCOMM stock traded down $3.02 during mid-day trading on Thursday, hitting $161.30. 1,857,476 shares of the company’s stock were exchanged, compared to its average volume of 8,512,104. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a market cap of $180.01 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.30 and a beta of 1.41. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The stock has a 50 day moving average of $164.47 and a two-hundred day moving average of $142.20.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.11%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were 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 directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders sold 44,360 shares of company stock worth $7,184,678 over the last ninety days. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on QCOM. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. Barclays increased their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities increased their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $156.90.

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.