Cornerstone Wealth Management LLC Sells 1,438 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cornerstone Wealth Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,533 shares of the wireless technology company’s stock after selling 1,438 shares during the period. Cornerstone Wealth Management LLC’s holdings in QUALCOMM were worth $1,311,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HWG Holdings LP bought a new position in QUALCOMM during the 2nd quarter valued at about $30,000. Reston Wealth Management LLC bought a new position in QUALCOMM during the 3rd quarter valued at about $26,000. Planning Capital Management Corp grew its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Hershey Financial Advisers LLC bought a new position in QUALCOMM during the 2nd quarter valued at about $42,000. Finally, Accordant Advisory Group Inc bought a new position in QUALCOMM during the 3rd quarter valued at about $36,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Mizuho dropped their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Melius Research assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Trading Down 1.3 %

Shares of QUALCOMM stock opened at $172.11 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a fifty day moving average price of $159.26 and a 200 day moving average price of $168.08. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The stock has a market cap of $191.21 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Equities research analysts predict that QUALCOMM Incorporated will post 9.14 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 issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM 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 completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. 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.