Romano Brothers AND Company Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Romano Brothers AND Company lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,150 shares of the wireless technology company’s stock after selling 1,148 shares during the period. Romano Brothers AND Company’s holdings in QUALCOMM were worth $5,707,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Inspire Investing LLC increased its position in QUALCOMM by 89.1% during the 2nd quarter. Inspire Investing LLC now owns 4,956 shares of the wireless technology company’s stock worth $987,000 after purchasing an additional 2,335 shares during the period. ProVise Management Group LLC grew its holdings in QUALCOMM by 12.4% during the second quarter. ProVise Management Group LLC now owns 2,148 shares of the wireless technology company’s stock worth $428,000 after acquiring an additional 237 shares during the period. Callan Capital LLC raised its position in QUALCOMM by 15.9% in the second quarter. Callan Capital LLC now owns 2,421 shares of the wireless technology company’s stock worth $482,000 after acquiring an additional 333 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of QUALCOMM by 31.6% during the 2nd quarter. Bridges Investment Management Inc. now owns 15,561 shares of the wireless technology company’s stock worth $3,099,000 after purchasing an additional 3,734 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of QUALCOMM by 250.5% during the 2nd quarter. AE Wealth Management LLC now owns 55,214 shares of the wireless technology company’s stock worth $10,998,000 after purchasing an additional 39,463 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, Evercore ISI upped their target price on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a 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’s stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $164.56 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The firm has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The company has a 50 day moving average price of $158.85 and a 200 day moving average price of $169.03.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s payout ratio is currently 37.82%.

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.