Lee Financial Group Hawaii Inc. Sells 523 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Lee Financial Group Hawaii Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 17.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,437 shares of the wireless technology company’s stock after selling 523 shares during the period. QUALCOMM comprises 0.2% of Lee Financial Group Hawaii Inc.’s holdings, making the stock its 26th biggest holding. Lee Financial Group Hawaii Inc.’s holdings in QUALCOMM were worth $275,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mission Wealth Management LP grew its stake in QUALCOMM by 4.8% in the 3rd quarter. Mission Wealth Management LP now owns 14,528 shares of the wireless technology company’s stock worth $1,641,000 after acquiring an additional 671 shares in the last quarter. ARGI Investment Services LLC grew its stake in QUALCOMM by 3.5% in the 3rd quarter. ARGI Investment Services LLC now owns 3,595 shares of the wireless technology company’s stock worth $406,000 after acquiring an additional 122 shares in the last quarter. Desjardins Global Asset Management Inc. grew its stake in QUALCOMM by 2.5% in the 3rd quarter. Desjardins Global Asset Management Inc. now owns 10,899 shares of the wireless technology company’s stock worth $1,231,000 after acquiring an additional 266 shares in the last quarter. IFG Advisory LLC grew its stake in QUALCOMM by 2.9% in the 3rd quarter. IFG Advisory LLC now owns 7,363 shares of the wireless technology company’s stock worth $831,000 after acquiring an additional 208 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in QUALCOMM by 8.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 23,802 shares of the wireless technology company’s stock worth $2,689,000 after acquiring an additional 1,830 shares in the last quarter. 70.87% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 0.3 %

NASDAQ:QCOM opened at $130.70 on Wednesday. The firm has a market capitalization of $146.02 billion, a P/E ratio of 11.49, a PEG ratio of 0.95 and a beta of 1.23. QUALCOMM Incorporated has a 1-year low of $101.93 and a 1-year high of $192.10. The company’s fifty day moving average price is $118.39 and its 200-day moving average price is $126.00. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.75 and a quick ratio of 1.21.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings data on Wednesday, November 2nd. The wireless technology company reported $2.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.74. The firm had revenue of $11.40 billion for the quarter, compared to analyst estimates of $11.38 billion. QUALCOMM had a net margin of 29.27% and a return on equity of 86.71%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 8.81 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 2nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 annualized dividend and a yield of 2.30%. QUALCOMM’s dividend payout ratio is presently 26.36%.

Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Rosenblatt Securities dropped their target price on shares of QUALCOMM from $220.00 to $170.00 and set a “buy” rating on the stock in a research note on Thursday, November 3rd. Morgan Stanley dropped their price objective on shares of QUALCOMM from $170.00 to $147.00 and set an “overweight” rating on the stock in a research note on Monday, October 31st. Evercore ISI set a $120.00 price objective on shares of QUALCOMM in a research note on Wednesday, November 23rd. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $185.00 to $160.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 20th. Finally, Canaccord Genuity Group decreased their target price on shares of QUALCOMM from $225.00 to $165.00 in a research report on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.46.

Insider Activity at QUALCOMM

In related news, CAO Erin L. Polek sold 2,894 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $121.10, for a total transaction of $350,463.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Erin L. Polek sold 2,894 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $121.10, for a total transaction of $350,463.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 26,427 shares of QUALCOMM stock in a transaction dated Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the completion of the sale, the insider now owns 51,179 shares in the company, valued at approximately $6,260,727.07. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

QUALCOMM Company Profile

(Get Rating)

QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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