WR Wealth Planners LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

WR Wealth Planners LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 33.4% in the 4th quarter, HoldingsChannel reports. The firm owned 253 shares of the wireless technology company’s stock after selling 127 shares during the quarter. WR Wealth Planners LLC’s holdings in QUALCOMM were worth $39,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. CKW Financial Group acquired a new position in shares of QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth about $29,000. Planning Capital Management Corp raised its position in 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 in the last quarter. Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the third quarter worth about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $157.18 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a market cap of $173.84 billion, a price-to-earnings ratio of 16.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The stock has a 50 day simple moving average of $164.94 and a 200-day simple moving average of $165.61.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 annualized dividend and a dividend yield of 2.16%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Analyst Ratings Changes

QCOM has been the subject of a number of recent research reports. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Wells Fargo & Company lifted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is owned by corporate insiders.

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.