WealthCollab LLC Has $51,000 Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

WealthCollab LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 19.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 331 shares of the wireless technology company’s stock after selling 79 shares during the period. WealthCollab LLC’s holdings in QUALCOMM were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on QCOM shares. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Hold” and a consensus target price of $200.86.

QUALCOMM Price Performance

Shares of QCOM stock opened at $146.88 on Wednesday. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The firm’s 50 day moving average price is $149.02 and its two-hundred day moving average price is $159.13. The stock has a market cap of $162.45 billion, a PE ratio of 15.69, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced 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, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is 38.03%.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock worth $5,047,052 over the last quarter. 0.08% of the stock is currently owned by insiders.

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.