Cerity Partners LLC Sells 9,557 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cerity Partners LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 521,366 shares of the wireless technology company’s stock after selling 9,557 shares during the period. Cerity Partners LLC’s holdings in QUALCOMM were worth $82,182,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. TBH Global Asset Management LLC increased its stake in QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after acquiring an additional 63 shares during the period. PDS Planning Inc grew its holdings in shares of QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after purchasing an additional 64 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after purchasing an additional 65 shares in the last quarter. CFS Investment Advisory Services LLC increased its position in shares of QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares during the period. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after purchasing an additional 65 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Evercore ISI decreased 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 report on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius assumed 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 assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

Shares of QCOM stock opened at $129.72 on Tuesday. The firm’s 50 day moving average price is $160.91 and its two-hundred day moving average price is $162.74. The stock has a market cap of $143.47 billion, a PE ratio of 13.86, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.62%. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,749 shares of company stock valued at $4,920,347 in the last 90 days. 0.08% of the stock is owned by insiders.

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.