ProVise Management Group LLC Has $308,000 Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

ProVise Management Group LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 27.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,007 shares of the wireless technology company’s stock after selling 745 shares during the quarter. ProVise Management Group LLC’s holdings in QUALCOMM were worth $308,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi increased its position in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $527,053,000. Pacer Advisors Inc. increased its position in shares of QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after purchasing an additional 3,014,302 shares during the last quarter. Geode Capital Management LLC increased its position in shares of QUALCOMM by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.3 %

NASDAQ QCOM opened at $158.26 on Thursday. The business has a 50 day simple moving average of $164.54 and a 200 day simple moving average of $164.15. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The stock has a market capitalization of $175.04 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

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

QUALCOMM Dividend Announcement

The firm 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 dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analysts Set New Price Targets

Several brokerages have recently commented on QCOM. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Finally, Melius assumed coverage on QUALCOMM in a 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 issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.