Financial Engines Advisors L.L.C. Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Engines Advisors L.L.C. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,647 shares of the wireless technology company’s stock after selling 3,987 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in QUALCOMM were worth $1,789,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group bought a new position in QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. CoreFirst Bank & Trust bought a new stake in QUALCOMM in the fourth quarter worth $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on QCOM. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 1.1 %

Shares of NASDAQ:QCOM opened at $158.39 on Thursday. 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 company has a market cap of $175.18 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock has a 50 day moving average of $164.47 and a 200 day moving average of $163.92.

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

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 annualized dividend and a yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

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.