Pacific Wealth Management Has $358,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Pacific Wealth Management lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,333 shares of the wireless technology company’s stock after selling 277 shares during the period. QUALCOMM comprises 0.2% of Pacific Wealth Management’s holdings, making the stock its 13th largest holding. Pacific Wealth Management’s holdings in QUALCOMM were worth $358,000 as of its most recent SEC filing.

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

QUALCOMM Price Performance

Shares of QCOM opened at $154.08 on Thursday. The business has a 50-day moving average of $163.33 and a 200-day moving average of $163.57. QUALCOMM Incorporated has a 1 year low of $147.88 and a 1 year high of $230.63. The company has a market capitalization of $170.41 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth 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 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 anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on QCOM. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have assigned 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 has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate 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.