Carson Advisory Inc. Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Carson Advisory Inc. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,249 shares of the wireless technology company’s stock after selling 1,448 shares during the period. Carson Advisory Inc.’s holdings in QUALCOMM were worth $470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in QCOM. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the fourth quarter worth about $32,000. Financial Gravity Asset Management Inc. raised its holdings in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth approximately $35,000. Cranbrook Wealth Management LLC grew its position in shares of QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Finally, Legacy Financial Group LLC purchased a new position in QUALCOMM in the 3rd quarter valued at $29,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM stock traded up $15.99 during trading on Thursday, reaching $180.10. The company had a trading volume of 25,827,533 shares, compared to its average volume of 8,739,938. The firm’s 50 day simple moving average is $166.69 and its two-hundred day simple moving average is $145.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $181.69. The company has a market capitalization of $200.99 billion, a PE ratio of 26.13, a PEG ratio of 2.27 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for 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%. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given 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 yield of 1.89%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is currently 46.38%.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred 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 $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 in the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of recent analyst reports. Robert W. Baird raised their target price on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. HSBC boosted their target price on shares of QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday. Wolfe Research lifted their price target on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of QUALCOMM in a report on Thursday. Finally, Susquehanna boosted their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.36.

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.