Principle Wealth Partners LLC Sells 759 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Principle Wealth Partners LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,775 shares of the wireless technology company’s stock after selling 759 shares during the quarter. Principle Wealth Partners LLC’s holdings in QUALCOMM were worth $6,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at $26,000. CKW Financial Group purchased a new position in QUALCOMM during the fourth quarter valued at $27,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% during the third 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 period. Accordant Advisory Group Inc purchased a new stake in QUALCOMM in the third quarter worth about $36,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QUALCOMM stock opened at $171.36 on Tuesday. QUALCOMM Incorporated has a 12-month low of $148.41 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $162.15 and a 200-day moving average price of $165.55. The firm has a market capitalization of $189.52 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities research analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 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 $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,268 shares of company stock valued at $7,276,381. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on QCOM. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Susquehanna dropped 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. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.