Lake Street Private Wealth LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Lake Street Private Wealth LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,701 shares of the wireless technology company’s stock after selling 1,181 shares during the quarter. Lake Street Private Wealth LLC’s holdings in QUALCOMM were worth $1,337,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in shares of QUALCOMM in the third quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in QUALCOMM in the second quarter worth $30,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new stake in shares of QUALCOMM during the third quarter valued at $36,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM in the third quarter worth about $39,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. UBS Group increased their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Finally, Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned 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 $206.57.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 1.9 %

Shares of QUALCOMM stock opened at $164.56 on Friday. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The firm’s 50 day simple moving average is $158.98 and its two-hundred day simple moving average is $169.28. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts predict that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

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.