Colton Groome Financial Advisors LLC Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Colton Groome Financial Advisors LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 35.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,439 shares of the wireless technology company’s stock after selling 3,571 shares during the quarter. Colton Groome Financial Advisors LLC’s holdings in QUALCOMM were worth $989,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Crews Bank & Trust purchased a new stake in QUALCOMM during the 4th quarter valued at $2,264,000. Lewis Asset Management LLC increased its holdings in QUALCOMM by 3.8% in the 4th quarter. Lewis Asset Management LLC now owns 4,079 shares of the wireless technology company’s stock worth $627,000 after buying an additional 151 shares in the last quarter. Cairn Investment Group Inc. raised its position in QUALCOMM by 0.5% in the 4th quarter. Cairn Investment Group Inc. now owns 34,087 shares of the wireless technology company’s stock worth $5,236,000 after buying an additional 175 shares during the last quarter. Busey Bank lifted its stake in QUALCOMM by 2.1% during the 4th quarter. Busey Bank now owns 158,522 shares of the wireless technology company’s stock valued at $24,352,000 after acquiring an additional 3,186 shares during the period. Finally, First Affirmative Financial Network grew its stake in shares of QUALCOMM by 20.1% in the fourth quarter. First Affirmative Financial Network now owns 3,435 shares of the wireless technology company’s stock worth $528,000 after acquiring an additional 574 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.7 %

NASDAQ:QCOM opened at $172.86 on Thursday. The firm has a market cap of $192.05 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.84 and a beta of 1.25. 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 Incorporated has a one year low of $139.26 and a one year high of $230.63. The firm has a 50-day simple moving average of $159.76 and a 200-day simple moving average of $166.85.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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 dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the sale, the general counsel now directly owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This represents a 31.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Citigroup cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

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.