Money Concepts Capital Corp Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Money Concepts Capital Corp reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 4th quarter, Holdings Channel reports. The fund owned 2,406 shares of the wireless technology company’s stock after selling 126 shares during the period. Money Concepts Capital Corp’s holdings in QUALCOMM were worth $370,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Confluence Wealth Services Inc. lifted its position in shares of QUALCOMM by 25.2% in the fourth quarter. Confluence Wealth Services Inc. now owns 8,310 shares of the wireless technology company’s stock valued at $1,277,000 after acquiring an additional 1,670 shares in the last quarter. Country Club Bank lifted its position in shares of QUALCOMM by 2.5% in the fourth quarter. Country Club Bank now owns 6,930 shares of the wireless technology company’s stock valued at $1,071,000 after acquiring an additional 170 shares in the last quarter. Virginia Wealth Management Group Inc. lifted its position in QUALCOMM by 0.7% during the fourth quarter. Virginia Wealth Management Group Inc. now owns 29,665 shares of the wireless technology company’s stock worth $4,557,000 after buying an additional 211 shares during the period. Weaver Capital Management LLC lifted its position in QUALCOMM by 304.3% during the fourth quarter. Weaver Capital Management LLC now owns 7,270 shares of the wireless technology company’s stock worth $1,117,000 after buying an additional 5,472 shares during the period. Finally, Hager Investment Management Services LLC purchased a new position in QUALCOMM during the fourth quarter worth about $224,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on QCOM shares. UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Citigroup reduced their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. This represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,981 shares of company stock valued at $4,000,870 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 3.7 %

Shares of QCOM opened at $169.32 on Friday. The company has a market capitalization of $188.11 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $143.63 and a one year 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. The stock has a 50-day moving average price of $161.70 and a 200 day moving average price of $166.02.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.