Gerber Kawasaki Wealth & Investment Management Sells 10,527 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Gerber Kawasaki Wealth & Investment Management lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 33.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,739 shares of the wireless technology company's stock after selling 10,527 shares during the quarter. Gerber Kawasaki Wealth & Investment Management's holdings in QUALCOMM were worth $3,186,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the fourth quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust acquired a new position in QUALCOMM in the fourth quarter valued at $33,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at $38,000. Institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock valued at $5,047,052 over the last 90 days. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald reiterated a "neutral" rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Citigroup dropped their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and an average target price of $195.00.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded down $11.72 during mid-day trading on Thursday, hitting $136.74. The company had a trading volume of 14,436,439 shares, compared to its average volume of 8,535,065. The company has a market capitalization of $151.23 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. 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 stock's 50-day moving average price is $148.68 and its 200-day moving average price is $159.06.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same period in the previous year, the business earned $2.44 earnings per share. The firm's revenue was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.60%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's payout ratio is 38.03%.

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.