Schechter Investment Advisors LLC Sells 1,732 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Schechter Investment Advisors LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.1% during the 4th quarter, Holdings Channel reports. The fund owned 7,823 shares of the wireless technology company’s stock after selling 1,732 shares during the period. Schechter Investment Advisors LLC’s holdings in QUALCOMM were worth $1,202,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meridian Wealth Management LLC grew its position in QUALCOMM by 37.1% during the 4th quarter. Meridian Wealth Management LLC now owns 13,143 shares of the wireless technology company’s stock worth $2,010,000 after purchasing an additional 3,556 shares during the last quarter. Silver Coast Investments LLC acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $289,000. Keystone Wealth Services LLC lifted its stake in QUALCOMM by 3.9% during the 4th quarter. Keystone Wealth Services LLC now owns 2,201 shares of the wireless technology company’s stock valued at $338,000 after acquiring an additional 83 shares during the period. Garrett Wealth Advisory Group LLC acquired a new stake in QUALCOMM during the 4th quarter valued at approximately $423,000. Finally, Fidelis Capital Partners LLC lifted its stake in QUALCOMM by 5.1% during the 4th quarter. Fidelis Capital Partners LLC now owns 21,229 shares of the wireless technology company’s stock valued at $3,614,000 after acquiring an additional 1,028 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,045 shares of company stock valued at $8,237,043. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Down 2.3 %

Shares of QCOM opened at $153.62 on Tuesday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a 50-day moving average price of $164.84 and a 200 day moving average price of $165.47. The firm has a market capitalization of $169.90 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

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 issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Mizuho decreased their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. UBS Group boosted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.