QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Court Place Advisors LLC

Court Place Advisors LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,116 shares of the wireless technology company’s stock after selling 299 shares during the period. Court Place Advisors LLC’s holdings in QUALCOMM were worth $1,897,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc lifted its position in QUALCOMM by 6.5% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock valued at $161,000 after purchasing an additional 68 shares during the last quarter. Chilton Capital Management LLC boosted its position in shares of QUALCOMM by 1.9% during the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after buying an additional 70 shares during the period. Means Investment CO. Inc. grew its holdings in QUALCOMM by 1.2% in the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after buying an additional 71 shares in the last quarter. Marino Stram & Associates LLC increased its holdings in shares of QUALCOMM by 2.5% during the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after purchasing an additional 73 shares during the period. Finally, Certified Advisory Corp grew its position in QUALCOMM by 0.7% in the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock valued at $1,770,000 after buying an additional 79 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 2.5 %

QUALCOMM stock traded down $4.26 during trading hours on Wednesday, hitting $164.32. The company had a trading volume of 8,079,240 shares, compared to its average volume of 8,607,317. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm has a market capitalization of $183.38 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 2.32 and a beta of 1.41. The firm’s fifty day moving average is $164.11 and its 200-day moving average is $142.05.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, research analysts forecast that QUALCOMM Incorporated will post 7.67 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 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is currently 46.38%.

Analysts Set New Price Targets

A number of research firms have commented on QCOM. Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday. They issued an “in-line” rating and a $177.00 target price for the company. Canaccord Genuity Group lifted their price target on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Piper Sandler upped their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

Insider Activity at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM 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 transaction, the chief executive officer now directly owns 32,400 shares in the company, valued at approximately $4,843,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is owned by corporate 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.