Roberts Wealth Advisors LLC Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Roberts Wealth Advisors LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,881 shares of the wireless technology company’s stock after selling 6,406 shares during the period. QUALCOMM comprises 1.5% of Roberts Wealth Advisors LLC’s portfolio, making the stock its 20th largest position. Roberts Wealth Advisors LLC’s holdings in QUALCOMM were worth $4,913,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board boosted its stake in shares of QUALCOMM by 75.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 43,177 shares of the wireless technology company’s stock valued at $8,600,000 after buying an additional 18,577 shares during the last quarter. Magnetar Financial LLC acquired a new stake in QUALCOMM in the second quarter valued at $2,983,000. Interval Partners LP boosted its stake in QUALCOMM by 12,590.0% during the 2nd quarter. Interval Partners LP now owns 10,152 shares of the wireless technology company’s stock valued at $2,022,000 after acquiring an additional 10,072 shares during the last quarter. Westwood Wealth Management grew its holdings in QUALCOMM by 22.6% during the 2nd quarter. Westwood Wealth Management now owns 2,708 shares of the wireless technology company’s stock worth $539,000 after acquiring an additional 500 shares in the last quarter. Finally, Semmax Financial Advisors Inc. bought a new stake in shares of QUALCOMM in the 2nd quarter worth about $1,338,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 1.6 %

Shares of NASDAQ:QCOM opened at $167.27 on Wednesday. The company has a 50 day moving average of $158.78 and a 200-day moving average of $168.29. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The firm has a market cap of $185.84 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.75 and a beta of 1.25. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.12 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The stock was 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 $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value 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. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on QCOM. Evercore ISI boosted their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Citigroup lowered their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

About QUALCOMM

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.