Silver Lake Advisory LLC Sells 33,776 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Silver Lake Advisory LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 90.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,715 shares of the wireless technology company’s stock after selling 33,776 shares during the period. Silver Lake Advisory LLC’s holdings in QUALCOMM were worth $571,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Reston Wealth Management LLC purchased a new position in QUALCOMM during the 3rd quarter worth $26,000. HWG Holdings LP purchased a new stake in QUALCOMM in the 2nd quarter valued at about $30,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter valued at approximately $36,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM during the third quarter worth $39,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley reduced their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction 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 $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction that occurred on Thursday, November 21st. The stock was 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 approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 2.4 %

Shares of QCOM stock opened at $174.36 on Friday. The business has a 50-day moving average price of $159.05 and a two-hundred day moving average price of $168.04. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The firm has a market cap of $193.71 billion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 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.