Intellectus Partners LLC Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Intellectus Partners LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 25.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,263 shares of the wireless technology company’s stock after selling 6,673 shares during the period. QUALCOMM comprises about 0.8% of Intellectus Partners LLC’s portfolio, making the stock its 26th largest holding. Intellectus Partners LLC’s holdings in QUALCOMM were worth $2,786,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sargent Investment Group LLC boosted its position in QUALCOMM by 4.8% during the fourth quarter. Sargent Investment Group LLC now owns 23,852 shares of the wireless technology company’s stock valued at $3,450,000 after buying an additional 1,097 shares during the period. Omnia Family Wealth LLC purchased a new stake in QUALCOMM during the fourth quarter valued at about $252,000. Principle Wealth Partners LLC boosted its position in QUALCOMM by 1.4% during the fourth quarter. Principle Wealth Partners LLC now owns 43,979 shares of the wireless technology company’s stock valued at $6,361,000 after buying an additional 607 shares during the period. Transcend Capital Advisors LLC boosted its position in QUALCOMM by 0.9% during the fourth quarter. Transcend Capital Advisors LLC now owns 11,793 shares of the wireless technology company’s stock valued at $1,706,000 after buying an additional 106 shares during the period. Finally, Opinicus Capital Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at about $1,597,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 1.4 %

Shares of NASDAQ QCOM traded up $2.36 on Friday, reaching $165.66. 7,141,339 shares of the company’s stock traded hands, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The business’s 50 day simple moving average is $165.84 and its two-hundred day simple moving average is $144.70. The company has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several recent analyst reports. Barclays upped their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Canaccord Genuity Group upped their price objective on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. lowered their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. Piper Sandler upped their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, Cantor Fitzgerald upped their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.86.

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.