Everhart Financial Group Inc. Sells 1,216 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Everhart Financial Group Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,778 shares of the wireless technology company’s stock after selling 1,216 shares during the quarter. Everhart Financial Group Inc.’s holdings in QUALCOMM were worth $427,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of QCOM. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the third quarter worth about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth about $27,000. Planning Capital Management Corp boosted its position in shares of 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 buying an additional 114 shares during the period. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the third quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth about $38,000. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on QCOM. Piper Sandler reduced their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI reduced their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. JPMorgan Chase & Co. reduced their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price target on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,268 shares of company stock worth $7,785,781 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $172.23 on Monday. The stock’s fifty day moving average price is $163.13 and its two-hundred day moving average price is $165.49. QUALCOMM Incorporated has a one year low of $148.90 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. The firm has a market cap of $190.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid 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 yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

About QUALCOMM

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.