MMA Asset Management LLC Has $648,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

MMA Asset Management LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,218 shares of the wireless technology company’s stock after selling 697 shares during the period. MMA Asset Management LLC’s holdings in QUALCOMM were worth $648,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $29,000. Finally, Planning Capital Management Corp lifted its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock worth $7,713,734 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Morgan Stanley reduced their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $157.18 on Friday. The stock has a market cap of $173.84 billion, a P/E ratio of 16.79, a PEG ratio of 2.01 and a beta of 1.25. The company’s 50-day simple moving average is $164.94 and its 200 day simple moving average is $165.62. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released 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 25.94% and a return on equity of 39.51%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.