Prossimo Advisors LLC Has $249,000 Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Prossimo Advisors LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,618 shares of the wireless technology company’s stock after selling 263 shares during the quarter. Prossimo Advisors LLC’s holdings in QUALCOMM were worth $249,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $116,000. Raleigh Capital Management Inc. boosted its holdings in shares of QUALCOMM by 5.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,020 shares of the wireless technology company’s stock valued at $854,000 after acquiring an additional 247 shares in the last quarter. Waterway Wealth Management LLC increased its position in shares of QUALCOMM by 2.9% during the third quarter. Waterway Wealth Management LLC now owns 4,150 shares of the wireless technology company’s stock worth $706,000 after buying an additional 117 shares during the period. Townsend Asset Management Corp NC ADV lifted its position in shares of QUALCOMM by 4.0% during the 3rd quarter. Townsend Asset Management Corp NC ADV now owns 67,742 shares of the wireless technology company’s stock valued at $11,519,000 after acquiring an additional 2,596 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in QUALCOMM by 28.6% in the third quarter. Foundations Investment Advisors LLC now owns 13,582 shares of the wireless technology company’s stock valued at $2,310,000 after acquiring an additional 3,023 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold 47,268 shares of company stock valued at $7,785,781 over the last 90 days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.8 %

QUALCOMM stock opened at $173.64 on Wednesday. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63. The stock has a fifty day simple moving average of $163.70 and a two-hundred day simple moving average of $165.54. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market cap of $192.05 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.99 and a beta of 1.25.

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

QUALCOMM Announces Dividend

The company 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 is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.96%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Mizuho reduced their target price 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. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has an average 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.