Leisure Capital Management Sells 1,561 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Leisure Capital Management lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,279 shares of the wireless technology company’s stock after selling 1,561 shares during the period. QUALCOMM comprises 1.7% of Leisure Capital Management’s portfolio, making the stock its 11th biggest holding. Leisure Capital Management’s holdings in QUALCOMM were worth $3,222,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc lifted its stake in QUALCOMM by 6.5% during 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 acquiring an additional 68 shares during the period. Chilton Capital Management LLC lifted its stake in shares of QUALCOMM by 1.9% in the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after purchasing an additional 70 shares during the period. Means Investment CO. Inc. lifted its stake in shares of 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 purchasing an additional 71 shares during the period. Marino Stram & Associates LLC lifted its stake in shares of QUALCOMM by 2.5% in the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after purchasing an additional 73 shares during the period. Finally, First Command Advisory Services Inc. lifted its stake in shares of QUALCOMM by 6.1% in the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock worth $198,000 after purchasing an additional 79 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

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 shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QCOM. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Barclays increased their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Rosenblatt Securities boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Susquehanna boosted their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Finally, Mizuho boosted their price target on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $2.36 during midday trading on Friday, reaching $165.66. 7,141,339 shares of the company’s stock traded hands, compared to its average volume of 6,691,146. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a market cap of $184.88 billion, a P/E ratio of 24.01, a PEG ratio of 2.24 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a fifty day simple moving average of $165.84 and a two-hundred day simple moving average of $144.47.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Equities analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm 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. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio is currently 46.38%.

QUALCOMM 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.