Journey Strategic Wealth LLC Has $604,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Journey Strategic Wealth LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,932 shares of the wireless technology company’s stock after selling 346 shares during the quarter. Journey Strategic Wealth LLC’s holdings in QUALCOMM were worth $604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Reston Wealth Management LLC acquired a new stake in QUALCOMM during the third quarter worth about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $27,000. Planning Capital Management Corp grew its holdings in shares of QUALCOMM by 137.3% during the 3rd 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 in the last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the third quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Trading Up 0.6 %

QCOM opened at $172.93 on Monday. The firm has a 50 day simple moving average of $160.76 and a 200 day simple moving average of $166.37. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a market cap of $192.13 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating 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 company had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock worth $4,000,870 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of several analyst reports. Sanford C. Bernstein boosted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Thursday, November 7th. Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. KeyCorp lowered QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley cut 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. One 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 MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $206.57.

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.