Petix & Botte Co Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Petix & Botte Co reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,012 shares of the wireless technology company’s stock after selling 1,118 shares during the quarter. Petix & Botte Co’s holdings in QUALCOMM were worth $1,999,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter valued at approximately $26,000. HWG Holdings LP acquired a new stake in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Planning Capital Management Corp lifted its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc acquired a new position in QUALCOMM in the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM during the third quarter valued at $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Melius Research initiated coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. UBS Group raised their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. One investment 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Trading Down 1.3 %

NASDAQ QCOM opened at $172.11 on Monday. The firm’s 50 day moving average price is $159.49 and its two-hundred day moving average price is $167.56. The stock has a market cap of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

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

QUALCOMM Dividend Announcement

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

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by company insiders.

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.