Financial Management Network Inc. Sells 126 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Management Network Inc. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,389 shares of the wireless technology company’s stock after selling 126 shares during the period. Financial Management Network Inc.’s holdings in QUALCOMM were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter worth $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the 4th quarter worth $27,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the 3rd quarter worth $36,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.8 %

Shares of NASDAQ QCOM opened at $173.64 on Wednesday. The business’s 50 day moving average is $163.70 and its two-hundred day moving average is $165.54. 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 Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63. The stock has a market capitalization of $192.05 billion, a P/E ratio of 18.55, a PEG ratio of 1.99 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.96%. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Ratings Changes

Several research firms recently weighed in on QCOM. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Wells Fargo & Company lifted their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock valued at $7,785,781 over the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Company 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.