McIlrath & Eck LLC Sells 94 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

McIlrath & Eck LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,306 shares of the wireless technology company’s stock after selling 94 shares during the period. McIlrath & Eck LLC’s holdings in QUALCOMM were worth $201,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of QCOM. Norges Bank purchased a new stake in QUALCOMM in the 4th quarter worth approximately $2,721,882,000. Amundi raised its holdings in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in QUALCOMM in the fourth quarter worth $527,053,000. Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in QUALCOMM by 17.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM 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 transaction, the chief financial officer now owns 59,778 shares of the company’s stock, valued at $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,312 shares of company stock worth $1,948,379 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on QCOM shares. Citigroup lowered their price objective 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. Benchmark lowered their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Seaport Res Ptn raised QUALCOMM to a “hold” rating in a research note on Friday, May 9th. Loop Capital lowered their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $192.08.

QUALCOMM Stock Performance

QCOM stock opened at $153.82 on Wednesday. The company has a market cap of $168.89 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The stock’s fifty day moving average price is $145.99 and its 200-day moving average price is $156.70.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 EPS. On average, equities analysts forecast 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. Stockholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.31%. QUALCOMM’s payout ratio 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.