Parisi Gray Wealth Management Sells 99 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Parisi Gray Wealth Management trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,170 shares of the wireless technology company’s stock after selling 99 shares during the period. Parisi Gray Wealth Management’s holdings in QUALCOMM were worth $1,905,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. BlackRock Inc. boosted its holdings in QUALCOMM by 1.4% in the second quarter. BlackRock Inc. now owns 85,088,444 shares of the wireless technology company’s stock worth $10,128,928,000 after purchasing an additional 1,191,089 shares during the last quarter. State Street Corp boosted its holdings in QUALCOMM by 1.1% in the second quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock worth $5,837,985,000 after purchasing an additional 549,861 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after purchasing an additional 24,566,978 shares during the last quarter. Finally, Morgan Stanley raised its position in QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after acquiring an additional 3,929,586 shares during the period. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,360 shares of company stock valued at $5,457,048. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on QCOM. KeyCorp increased their price target on shares of QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $148.71.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $0.12 during mid-day trading on Thursday, reaching $169.01. The company’s stock had a trading volume of 389,239 shares, compared to its average volume of 8,925,852. The stock has a 50-day moving average of $157.05 and a two-hundred day moving average of $135.64. The stock has a market capitalization of $188.62 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. 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 Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share 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 analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

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.