Waterfront Wealth Inc. Sells 2,087 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Waterfront Wealth Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 53.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,849 shares of the wireless technology company’s stock after selling 2,087 shares during the quarter. Waterfront Wealth Inc.’s holdings in QUALCOMM were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. raised its stake in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Milestone Investment Advisors LLC bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM during the third quarter valued at approximately $29,000. Pacific Center for Financial Services bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of QUALCOMM during the first quarter valued at approximately $32,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Mizuho boosted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Susquehanna boosted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Evercore ISI initiated coverage on shares of QUALCOMM in a research report on Tuesday. They issued an “in-line” rating and a $177.00 price target on the stock. Piper Sandler lifted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.90.

Insider Activity

In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’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 completion of the sale, the chief technology officer now owns 269,893 shares in the company, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. Insiders have sold a total of 44,360 shares of company stock worth $7,184,678 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Down 1.8 %

QUALCOMM stock traded down $3.02 during trading hours on Thursday, reaching $161.30. The stock had a trading volume of 1,857,476 shares, compared to its average volume of 8,512,104. The company has a market cap of $180.01 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business’s 50 day moving average price is $164.47 and its 200-day moving average price is $142.20. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping 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 business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 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.