QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Game Creek Capital LP

Game Creek Capital LP trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,375 shares of the wireless technology company’s stock after selling 250 shares during the period. Game Creek Capital LP’s holdings in QUALCOMM were worth $826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth $26,000. Banque Transatlantique SA acquired a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the fourth quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM in the 4th quarter valued at $33,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on QCOM shares. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Citigroup lowered their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. TD Cowen dropped their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $192.08.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the sale, the chief financial officer now directly owns 53,112 shares of the company’s stock, valued at $7,423,464.24. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,599 shares of company stock valued at $5,733,290 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 0.1 %

NASDAQ QCOM opened at $145.30 on Friday. The stock has a market cap of $159.54 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 2.01 and a beta of 1.29. The firm’s 50 day moving average price is $146.38 and its two-hundred day moving average price is $157.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the previous year, the business posted $2.44 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.45%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.25%.

About QUALCOMM

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.