QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Tanaka Capital Management Inc.

Tanaka Capital Management Inc. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,194 shares of the wireless technology company’s stock after selling 1,003 shares during the period. QUALCOMM accounts for about 3.6% of Tanaka Capital Management Inc.’s holdings, making the stock its 11th biggest holding. Tanaka Capital Management Inc.’s holdings in QUALCOMM were worth $1,566,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several brokerages have weighed in on QCOM. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Benchmark lowered their target price on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $192.08.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,312 shares of company stock valued at $1,948,379. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 0.1%

Shares of NASDAQ:QCOM opened at $152.50 on Friday. The firm’s 50 day moving average price is $145.94 and its 200 day moving average price is $156.84. The stock has a market cap of $167.45 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. 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 (NASDAQ:QCOM) last issued 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. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm’s revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.33%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

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.