Balboa Wealth Partners Sells 2,394 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Balboa Wealth Partners reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 34.6% in the 4th quarter, HoldingsChannel reports. The firm owned 4,518 shares of the wireless technology company’s stock after selling 2,394 shares during the period. Balboa Wealth Partners’ holdings in QUALCOMM were worth $694,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of QCOM. HBK Sorce Advisory LLC lifted its position in shares of QUALCOMM by 0.3% in the fourth quarter. HBK Sorce Advisory LLC now owns 20,842 shares of the wireless technology company’s stock valued at $3,202,000 after buying an additional 72 shares during the last quarter. Achmea Investment Management B.V. increased its holdings in shares of QUALCOMM by 6.9% during the 4th quarter. Achmea Investment Management B.V. now owns 211,898 shares of the wireless technology company’s stock worth $32,552,000 after acquiring an additional 13,674 shares during the last quarter. Tredje AP fonden raised its stake in QUALCOMM by 97.9% in the 4th quarter. Tredje AP fonden now owns 291,972 shares of the wireless technology company’s stock valued at $44,853,000 after acquiring an additional 144,439 shares during the period. Avantax Advisory Services Inc. lifted its holdings in QUALCOMM by 12.3% during the 4th quarter. Avantax Advisory Services Inc. now owns 65,802 shares of the wireless technology company’s stock valued at $10,109,000 after purchasing an additional 7,197 shares during the last quarter. Finally, Essential Planning LLC. bought a new position in QUALCOMM during the fourth quarter worth $3,780,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,555 shares of company stock worth $5,094,134. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Down 0.2 %

QCOM stock opened at $152.80 on Thursday. The stock has a market capitalization of $169.00 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $164.74 and a 200-day moving average price of $164.70. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.