Howe & Rusling Inc. Sells 23,053 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Howe & Rusling Inc. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 38.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 37,675 shares of the wireless technology company’s stock after selling 23,053 shares during the period. Howe & Rusling Inc.’s holdings in QUALCOMM were worth $5,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter worth $32,000. Financial Gravity Asset Management Inc. raised its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth $35,000. Cranbrook Wealth Management LLC raised its position in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Finally, Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM in the third quarter worth $29,000. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. StockNews.com upgraded QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. Finally, Mizuho raised their price target on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.68.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on 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 owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 in the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM traded up $0.67 during mid-day trading on Wednesday, reaching $166.52. 7,320,422 shares of the company traded hands, compared to its average volume of 8,459,929. The stock has a market capitalization of $185.84 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.32 and a beta of 1.41. 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 company’s fifty day moving average price is $166.45 and its 200-day moving average price is $145.75. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.04%. QUALCOMM’s payout ratio is presently 46.38%.

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.