Brown Miller Wealth Management LLC Sells 523 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Brown Miller Wealth Management LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,473 shares of the wireless technology company’s stock after selling 523 shares during the quarter. QUALCOMM comprises approximately 1.4% of Brown Miller Wealth Management LLC’s portfolio, making the stock its 19th largest holding. Brown Miller Wealth Management LLC’s holdings in QUALCOMM were worth $2,816,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Saxon Interests Inc. purchased a new stake in QUALCOMM during the fourth quarter valued at about $324,000. Franklin Street Advisors Inc. NC boosted its holdings in shares of QUALCOMM by 8.4% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 5,164 shares of the wireless technology company’s stock worth $747,000 after purchasing an additional 400 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of QUALCOMM by 1.2% during the fourth quarter. Ritholtz Wealth Management now owns 16,147 shares of the wireless technology company’s stock worth $2,335,000 after purchasing an additional 188 shares during the period. Accel Wealth Management boosted its holdings in shares of QUALCOMM by 8.0% during the fourth quarter. Accel Wealth Management now owns 3,754 shares of the wireless technology company’s stock worth $543,000 after purchasing an additional 279 shares during the period. Finally, Trueblood Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $1,272,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QCOM stock traded up $0.17 during mid-day trading on Thursday, hitting $169.30. The company had a trading volume of 5,323,053 shares, compared to its average volume of 9,007,399. The company has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 2.28 and a beta of 1.41. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $157.64 and a 200 day moving average price of $135.88.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, research analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Buying and Selling

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at approximately $4,843,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares in the company, valued at $691,108. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’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 sale, the chief executive officer now owns 32,400 shares of the company’s stock, valued at $4,843,800. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock valued at $5,457,048 in the last ninety days. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on QCOM shares. KeyCorp increased their price target on shares of QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Rosenblatt Securities raised their target price 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. Piper Sandler raised their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $119.00 to $132.00 in a research note on Friday, December 8th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

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.