QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Brown Miller Wealth Management LLC

Brown Miller Wealth Management LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,473 shares of the wireless technology company’s stock after selling 523 shares during the quarter. QUALCOMM comprises approximately 1.4% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 19th largest holding. Brown Miller Wealth Management LLC’s holdings in QUALCOMM were worth $2,816,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of QCOM. Saxon Interests Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $324,000. Franklin Street Advisors Inc. NC boosted its holdings in shares of QUALCOMM by 8.4% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 5,164 shares of the wireless technology company’s stock valued at $747,000 after acquiring an additional 400 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of QUALCOMM by 1.2% in the fourth quarter. Ritholtz Wealth Management now owns 16,147 shares of the wireless technology company’s stock valued at $2,335,000 after acquiring an additional 188 shares in the last quarter. Accel Wealth Management boosted its holdings in shares of QUALCOMM by 8.0% in the fourth quarter. Accel Wealth Management now owns 3,754 shares of the wireless technology company’s stock valued at $543,000 after acquiring an additional 279 shares in the last quarter. Finally, Trueblood Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $1,272,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QUALCOMM stock traded up $0.17 during trading hours on Thursday, hitting $169.30. 5,323,053 shares of the company traded hands, compared to its average volume of 9,007,399. The firm has a market cap of $188.94 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.28 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. The firm’s 50-day simple moving average is $157.64 and its two-hundred day simple moving average is $135.88. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were paid a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s payout ratio is 46.38%.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the transaction, the chief executive officer now directly owns 16,200 shares in the company, valued at $2,747,520. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 371 shares of QUALCOMM 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 completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,360 shares of company stock worth $5,457,048. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on QCOM shares. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a report on Monday, March 4th. TD Cowen boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a report on Thursday, February 1st. Finally, Piper Sandler boosted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.71.

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.