Biltmore Family Office LLC Sells 400 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Biltmore Family Office LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,897 shares of the wireless technology company’s stock after selling 400 shares during the quarter. Biltmore Family Office LLC’s holdings in QUALCOMM were worth $2,288,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. CoreFirst Bank & Trust acquired a new stake in shares of QUALCOMM in the fourth quarter valued at about $33,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the fourth quarter worth about $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Evercore ISI decreased their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Finally, Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Up 0.7 %

Shares of QCOM stock opened at $154.08 on Thursday. QUALCOMM Incorporated has a 52-week low of $147.88 and a 52-week high of $230.63. The company has a 50-day simple moving average of $163.33 and a two-hundred day simple moving average of $163.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market capitalization of $170.41 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.21%. QUALCOMM’s payout ratio is currently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,968 shares of company stock valued at $4,685,077. Company insiders own 0.08% of the company’s stock.

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.