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

SeaCrest Wealth Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,567 shares of the wireless technology company’s stock after selling 4,545 shares during the quarter. QUALCOMM makes up approximately 0.9% of SeaCrest Wealth Management LLC’s investment portfolio, making the stock its 14th largest position. SeaCrest Wealth Management LLC’s holdings in QUALCOMM were worth $6,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moser Wealth Advisors LLC grew its holdings in QUALCOMM by 223.2% in the 4th quarter. Moser Wealth Advisors LLC now owns 181 shares of the wireless technology company’s stock valued at $28,000 after buying an additional 125 shares in the last quarter. Addison Advisors LLC purchased a new stake in QUALCOMM in the 4th quarter valued at $32,000. Joseph P. Lucia & Associates LLC purchased a new stake in QUALCOMM in the 4th quarter valued at $33,000. ForthRight Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at $33,000. Finally, Clark Financial Advisors purchased a new stake in QUALCOMM in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 74.76% of the company’s stock.

Shares of NASDAQ:QCOM traded down $3.30 during trading on Tuesday, hitting $136.16. 306,489 shares of the company traded hands, compared to its average volume of 10,313,883. QUALCOMM Incorporated has a one year low of $58.00 and a one year high of $167.94. The stock has a market capitalization of $154.68 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 1.27 and a beta of 1.34. The business’s fifty day moving average is $153.95 and its 200-day moving average is $135.95. The company has a quick ratio of 1.84, a current ratio of 2.14 and a debt-to-equity ratio of 2.51.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 3rd. The wireless technology company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.07. QUALCOMM had a return on equity of 90.74% and a net margin of 22.09%. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the prior year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 62.2% compared to the same quarter last year. On average, analysts forecast that QUALCOMM Incorporated will post 6.33 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 25th. Stockholders of record on Thursday, March 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, March 3rd. QUALCOMM’s dividend payout ratio (DPR) is presently 77.84%.

Several equities analysts have recently commented on QCOM shares. Oppenheimer reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Thursday, November 5th. Mizuho upped their price target on QUALCOMM from $163.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. JPMorgan Chase & Co. set a $160.00 price target on QUALCOMM and gave the company a “buy” rating in a research note on Thursday, November 5th. Robert W. Baird started coverage on QUALCOMM in a research note on Tuesday, December 22nd. They issued an “outperform” rating and a $200.00 price target on the stock. Finally, Susquehanna Bancshares upped their price target on QUALCOMM from $165.00 to $175.00 and gave the company a “positive” rating in a research note on Thursday, February 4th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QUALCOMM currently has a consensus rating of “Buy” and an average target price of $157.81.

In related news, President Cristiano R. Amon sold 73,220 shares of the stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $148.72, for a total value of $10,889,278.40. Following the completion of the sale, the president now owns 50,753 shares in the company, valued at $7,547,986.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Alexander H. Rogers sold 35,102 shares of the firm’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $157.17, for a total transaction of $5,516,981.34. Following the transaction, the executive vice president now owns 64,365 shares of the company’s stock, valued at approximately $10,116,247.05. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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