Midland Wealth Advisors LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Midland Wealth Advisors LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,030 shares of the wireless technology company’s stock after selling 533 shares during the period. Midland Wealth Advisors LLC’s holdings in QUALCOMM were worth $926,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in QUALCOMM by 6.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 823,029 shares of the wireless technology company’s stock worth $126,434,000 after buying an additional 48,819 shares during the period. Sound View Wealth Advisors Group LLC raised its position in shares of QUALCOMM by 4.7% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 23,876 shares of the wireless technology company’s stock worth $3,668,000 after acquiring an additional 1,078 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of QUALCOMM by 645.0% during the 4th quarter. AlphaQuest LLC now owns 9,961 shares of the wireless technology company’s stock worth $1,530,000 after purchasing an additional 8,624 shares during the last quarter. Miramar Capital LLC bought a new stake in QUALCOMM during the fourth quarter valued at about $8,868,000. Finally, Horan Securities Inc. boosted its position in QUALCOMM by 3.2% during the fourth quarter. Horan Securities Inc. now owns 3,248 shares of the wireless technology company’s stock valued at $499,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now owns 19,739 shares in the company, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 target price for the company. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius Research started coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Up 3.3 %

Shares of NASDAQ:QCOM opened at $161.22 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The business has a 50 day moving average of $164.76 and a two-hundred day moving average of $165.03. The company has a market capitalization of $178.31 billion, a PE ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced 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, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared 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. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.11%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.