McGuire Investment Group LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

McGuire Investment Group LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,013 shares of the wireless technology company’s stock after selling 1,066 shares during the period. QUALCOMM comprises about 3.3% of McGuire Investment Group LLC’s investment portfolio, making the stock its 6th largest position. McGuire Investment Group LLC’s holdings in QUALCOMM were worth $23,045,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in QUALCOMM in the third quarter valued at $26,000. HWG Holdings LP bought a new stake in QUALCOMM in the second quarter valued at $30,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in QUALCOMM in the third quarter valued at $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM in the third quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $172.11 on Friday. The stock has a 50 day moving average of $159.26 and a 200-day moving average of $168.08. The company has a market capitalization of $191.21 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 37.82%.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % 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 worth $4,314,649. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

QCOM has been the topic of a number of analyst reports. Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

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.