Strengthening Families & Communities LLC Sells 15,641 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Strengthening Families & Communities LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 91.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,533 shares of the wireless technology company’s stock after selling 15,641 shares during the period. Strengthening Families & Communities LLC’s holdings in QUALCOMM were worth $235,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of QCOM. Martin Capital Advisors LLP boosted its holdings in QUALCOMM by 2.8% in the 3rd quarter. Martin Capital Advisors LLP now owns 3,621 shares of the wireless technology company’s stock worth $616,000 after buying an additional 99 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of QUALCOMM by 12.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,098 shares of the wireless technology company’s stock valued at $1,377,000 after purchasing an additional 895 shares in the last quarter. Procyon Advisors LLC grew its position in shares of QUALCOMM by 3.2% during the third quarter. Procyon Advisors LLC now owns 37,152 shares of the wireless technology company’s stock valued at $6,318,000 after purchasing an additional 1,160 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of QUALCOMM during the third quarter valued at about $741,000. Finally, Empirical Asset Management LLC grew its position in shares of QUALCOMM by 0.8% during the third quarter. Empirical Asset Management LLC now owns 14,515 shares of the wireless technology company’s stock valued at $2,468,000 after purchasing an additional 114 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $171.36 on Tuesday. The company has a 50 day moving average price of $162.15 and a 200-day moving average price of $165.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. QUALCOMM Incorporated has a fifty-two week low of $148.41 and a fifty-two week high of $230.63. The company has a market capitalization of $189.52 billion, a PE ratio of 18.31, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed 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 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,268 shares of company stock valued at $7,276,381 over the last ninety days. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on QCOM shares. Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.