QUALCOMM, Inc. (QCOM) Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management reduced its holdings in QUALCOMM, Inc. (NASDAQ:QCOM) by 36.4% during the 1st quarter, Holdings Channel reports. The firm owned 6,168 shares of the wireless technology company’s stock after selling 3,533 shares during the quarter. Triangle Securities Wealth Management’s holdings in QUALCOMM were worth $352,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Lavaca Capital LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $25,000. Csenge Advisory Group acquired a new stake in QUALCOMM during the third quarter valued at approximately $28,000. Transamerica Financial Advisors Inc. boosted its holdings in QUALCOMM by 688.5% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 615 shares of the wireless technology company’s stock valued at $35,000 after purchasing an additional 537 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $36,000. Finally, Pearl River Capital LLC acquired a new stake in QUALCOMM during the fourth quarter valued at approximately $40,000. 83.69% of the stock is currently owned by institutional investors.

In other QUALCOMM news, EVP James H. Thompson sold 40,000 shares of the company’s stock in a transaction on Monday, February 11th. The shares were sold at an average price of $50.75, for a total transaction of $2,030,000.00. Following the completion of the sale, the executive vice president now owns 62,301 shares in the company, valued at approximately $3,161,775.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.11% of the company’s stock.

A number of equities research analysts have weighed in on QCOM shares. BMO Capital Markets reaffirmed a “market perform” rating on shares of QUALCOMM in a report on Thursday, January 31st. Zacks Investment Research downgraded QUALCOMM from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. Cowen reaffirmed an “outperform” rating and set a $70.00 price objective (down from $73.00) on shares of QUALCOMM in a report on Thursday, January 31st. ValuEngine raised QUALCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $60.00 target price (down previously from $68.00) on shares of QUALCOMM in a research note on Monday, January 14th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.95.

Shares of QUALCOMM stock opened at $56.33 on Thursday. The firm has a market cap of $69.52 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.82 and a beta of 1.22. QUALCOMM, Inc. has a 52 week low of $48.56 and a 52 week high of $76.50. The company has a debt-to-equity ratio of 4.25, a current ratio of 1.54 and a quick ratio of 1.38.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 30th. The wireless technology company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.09 by $0.11. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.89 billion. QUALCOMM had a net margin of 10.03% and a return on equity of 36.66%. The business’s revenue for the quarter was down 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, sell-side analysts forecast that QUALCOMM, Inc. will post 3.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 7th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Wednesday, March 6th. QUALCOMM’s payout ratio is 77.74%.

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About QUALCOMM

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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