Western Wealth Management LLC Sells 13,371 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Western Wealth Management LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,740 shares of the wireless technology company's stock after selling 13,371 shares during the period. Western Wealth Management LLC's holdings in QUALCOMM were worth $2,418,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM during the fourth quarter worth approximately $33,000. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the sale, the chief financial officer now owns 53,112 shares in the company, valued at approximately $7,423,464.24. This trade represents a 5.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company's stock, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock worth $1,818,305 in the last quarter. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark dropped their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Wall Street Zen downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Price Performance

QCOM stock opened at $147.37 on Friday. The stock has a market capitalization of $161.81 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company's 50-day moving average is $145.68 and its 200-day moving average is $156.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business's revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.44 EPS. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio is currently 36.25%.

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.

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