QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Independent Wealth Network Inc.

Independent Wealth Network Inc. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,376 shares of the wireless technology company’s stock after selling 66 shares during the period. Independent Wealth Network Inc.’s holdings in QUALCOMM were worth $211,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HWG Holdings LP purchased a new position in QUALCOMM in the second quarter worth approximately $30,000. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter worth $26,000. Planning Capital Management Corp grew its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Hershey Financial Advisers LLC purchased a new position in QUALCOMM in the second quarter valued at $42,000. Finally, Accordant Advisory Group Inc acquired a new stake in QUALCOMM in the third quarter valued at $36,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $174.36 on Friday. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a market capitalization of $193.71 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.79 and a beta of 1.25. The stock has a fifty day moving average of $159.05 and a two-hundred day moving average of $168.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.95%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Analyst Ratings Changes

QCOM has been the topic of a number of recent analyst reports. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Sanford C. Bernstein boosted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. This represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

About QUALCOMM

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.