Institute for Wealth Management LLC. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Institute for Wealth Management LLC. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,681 shares of the wireless technology company’s stock after selling 163 shares during the quarter. Institute for Wealth Management LLC.’s holdings in QUALCOMM were worth $1,979,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Rheos Capital Works Inc. raised its position in shares of QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after buying an additional 42,500 shares during the last quarter. Peoples Bank OH bought a new stake in QUALCOMM in the fourth quarter worth $219,000. HF Advisory Group LLC bought a new stake in QUALCOMM in the third quarter worth $629,000. Bank Hapoalim BM increased its position in QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after purchasing an additional 9,192 shares during the last quarter. Finally, NewEdge Wealth LLC increased its position in QUALCOMM by 120.2% in the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 over the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 2.6 %

Shares of QCOM stock traded down $4.23 on Friday, hitting $157.21. The stock had a trading volume of 5,363,959 shares, compared to its average volume of 8,569,331. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average price of $164.74 and a 200 day moving average price of $142.33. The company has a market cap of $175.45 billion, a PE ratio of 22.90, a P/E/G ratio of 2.24 and a beta of 1.41. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Research analysts anticipate that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, February 1st. Susquehanna boosted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Cantor Fitzgerald lifted their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Evercore ISI began coverage on shares of QUALCOMM in a research note on Tuesday. They set an “in-line” rating and a $177.00 price objective for the company. Finally, Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

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.