Clear Harbor Asset Management LLC Sells 343 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Clear Harbor Asset Management LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% during the fourth quarter, HoldingsChannel reports. The fund owned 11,673 shares of the wireless technology company’s stock after selling 343 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in QUALCOMM were worth $1,688,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Rheos Capital Works Inc. grew its holdings in shares of QUALCOMM by 36.8% in the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after purchasing an additional 42,500 shares during the last quarter. HF Advisory Group LLC bought a new position in shares of QUALCOMM in the third quarter worth about $629,000. DnB Asset Management AS grew its holdings in shares of QUALCOMM by 31.1% in the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after purchasing an additional 215,522 shares during the last quarter. Sather Financial Group Inc grew its holdings in shares of QUALCOMM by 5.8% in the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock worth $36,377,000 after purchasing an additional 18,090 shares during the last quarter. Finally, Stratos Wealth Advisors LLC grew its holdings in shares of QUALCOMM by 24.2% in the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock worth $4,382,000 after purchasing an additional 7,682 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $0.17 during midday trading on Thursday, reaching $169.30. 5,323,053 shares of the stock were exchanged, compared to its average volume of 9,007,399. The firm has a market cap of $188.94 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 2.28 and a beta of 1.41. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The firm has a 50-day simple moving average of $157.64 and a two-hundred day simple moving average of $135.88. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

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

QUALCOMM Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Mizuho increased their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. TD Cowen increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Canaccord Genuity Group increased their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares in the company, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,360 shares of company stock valued at $5,457,048. 0.08% of the stock is owned by company insiders.

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.