Octavia Wealth Advisors LLC Has $1.08 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Octavia Wealth Advisors LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,003 shares of the wireless technology company’s stock after selling 2,699 shares during the period. Octavia Wealth Advisors LLC’s holdings in QUALCOMM were worth $1,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter worth approximately $26,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the second quarter worth approximately $30,000. Planning Capital Management Corp lifted its position 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. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the third quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the third quarter worth approximately $39,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM opened at $167.27 on Wednesday. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63. The firm has a fifty day simple moving average of $158.78 and a 200 day simple moving average of $168.29. The stock has a market capitalization of $185.84 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping 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 analysts’ expectations of $9.90 billion. Research analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. Finally, Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the stock in a transaction 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 completion of the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by insiders.

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.