SeaCrest Wealth Management LLC Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

SeaCrest Wealth Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,818 shares of the wireless technology company’s stock after selling 2,093 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in QUALCOMM were worth $4,624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $26,000. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Milestone Investment Advisors LLC acquired a new stake in QUALCOMM during the first quarter worth approximately $26,000. Pacifica Partners Inc. boosted its holdings in shares of QUALCOMM by 150.0% in the 3rd quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock valued at $27,000 after buying an additional 150 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated 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 directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the completion of the transaction, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The disclosure for this sale can be found here. Insiders sold a total of 34,360 shares of company stock valued at $5,457,048 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock traded up $0.17 during mid-day trading on Friday, reaching $169.30. The company had a trading volume of 5,323,975 shares, compared to its average volume of 8,895,906. The stock’s 50-day simple moving average is $157.64 and its 200-day simple moving average is $135.88. The company has a market capitalization of $188.94 billion, a P/E ratio of 24.54, a P/E/G ratio of 2.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued 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 firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were given 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 dividend payout ratio is presently 46.38%.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Monday, March 4th. Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Thursday, February 1st. Rosenblatt Securities lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Mizuho increased their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.71.

QUALCOMM 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.