SeaCrest Wealth Management LLC Sells 2,093 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

SeaCrest Wealth Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,818 shares of the wireless technology company’s stock after selling 2,093 shares during the period. SeaCrest Wealth Management LLC’s holdings in QUALCOMM were worth $4,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Saxon Interests Inc. bought a new position in shares of QUALCOMM in the fourth quarter worth approximately $324,000. Franklin Street Advisors Inc. NC grew its stake in QUALCOMM by 8.4% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 5,164 shares of the wireless technology company’s stock worth $747,000 after buying an additional 400 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of QUALCOMM by 1.2% during the 4th quarter. Ritholtz Wealth Management now owns 16,147 shares of the wireless technology company’s stock valued at $2,335,000 after buying an additional 188 shares in the last quarter. Accel Wealth Management raised its position in shares of QUALCOMM by 8.0% during the 4th quarter. Accel Wealth Management now owns 3,754 shares of the wireless technology company’s stock valued at $543,000 after buying an additional 279 shares in the last quarter. Finally, Trueblood Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter worth $1,272,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Up 0.1 %

Shares of NASDAQ QCOM traded up $0.17 during midday trading on Friday, hitting $169.30. 5,323,975 shares of the company traded hands, compared to its average volume of 8,895,906. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The stock has a 50-day moving average price of $157.64 and a 200 day moving average price of $135.88. The firm has a market cap of $188.94 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.31 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.89%. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $119.00 to $132.00 in a research report on Friday, December 8th. Mizuho boosted their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Finally, Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $148.71.

Insider Buying and Selling at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the sale, the insider now directly owns 4,972 shares of the company’s stock, valued at $691,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares of the company’s stock, valued at approximately $691,108. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,360 shares of company stock worth $5,457,048. Insiders own 0.08% of the company’s stock.

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.