Soltis Investment Advisors LLC Sells 24,594 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Soltis Investment Advisors LLC decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 73.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,816 shares of the wireless technology company’s stock after selling 24,594 shares during the quarter. Soltis Investment Advisors LLC’s holdings in QUALCOMM were worth $1,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Elser Financial Planning Inc raised its stake in QUALCOMM by 4.3% during the fourth quarter. Elser Financial Planning Inc now owns 1,741 shares of the wireless technology company’s stock valued at $267,000 after purchasing an additional 72 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at $69,000. MBA Advisors LLC raised its stake in QUALCOMM by 5.1% during the fourth quarter. MBA Advisors LLC now owns 2,761 shares of the wireless technology company’s stock valued at $424,000 after purchasing an additional 133 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in QUALCOMM during the fourth quarter valued at $92,000. Finally, Ferguson Wellman Capital Management Inc. raised its stake in QUALCOMM by 1.2% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 6,175 shares of the wireless technology company’s stock valued at $949,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. 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. Wells Fargo & Company upped their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Up 2.0 %

Shares of QUALCOMM stock opened at $171.36 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1 year low of $148.41 and a 1 year high of $230.63. The firm’s 50-day moving average is $162.15 and its two-hundred day moving average is $165.55. The stock has a market cap of $189.52 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Activity

In other news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,268 shares of company stock worth $7,276,381. 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.