QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Leith Wheeler Investment Counsel Ltd.

Leith Wheeler Investment Counsel Ltd. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 205,444 shares of the wireless technology company’s stock after selling 62,883 shares during the quarter. QUALCOMM comprises approximately 2.3% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 13th largest position. Leith Wheeler Investment Counsel Ltd.’s holdings in QUALCOMM were worth $31,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TBH Global Asset Management LLC grew its stake in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc boosted its holdings in QUALCOMM by 1.6% during the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after acquiring an additional 64 shares during the period. CFS Investment Advisory Services LLC grew its position in shares of QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares during the last quarter. Toth Financial Advisory Corp increased its stake in shares of QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after purchasing an additional 65 shares during the period. Finally, Cassady Schiller Wealth Management LLC boosted its stake in QUALCOMM by 15.8% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QCOM. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Hold” and an average price target of $201.21.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 269 shares of QUALCOMM stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares of the company’s stock, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 over the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $147.62 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The stock has a market cap of $163.27 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.01 and a beta of 1.28. The business’s 50-day simple moving average is $149.56 and its 200 day simple moving average is $159.22.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.41%. QUALCOMM’s payout ratio is currently 38.03%.

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.