Andina Capital Management LLC Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Andina Capital Management LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,473 shares of the wireless technology company’s stock after selling 145 shares during the quarter. Andina Capital Management LLC’s holdings in QUALCOMM were worth $226,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM during the third quarter valued at approximately $26,000. HWG Holdings LP bought a new position in shares of QUALCOMM during the 2nd quarter valued at approximately $30,000. Planning Capital Management Corp increased its position in QUALCOMM by 137.3% in 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 during the last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM in the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM during the third quarter valued at $39,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 1.3 %

Shares of NASDAQ:QCOM opened at $172.11 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $191.21 billion, a PE ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The business’s fifty day simple moving average is $159.49 and its 200-day simple moving average is $167.83.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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 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 the consensus estimate of $9.90 billion. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio is presently 37.82%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Citigroup lowered their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. Morgan Stanley cut their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Mizuho lowered their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Activity

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were 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 owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly 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 quarter, insiders sold 26,882 shares of company stock worth $4,314,649. Insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.