Bailard Inc. Sells 528 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bailard Inc. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 131,616 shares of the wireless technology company’s stock after selling 528 shares during the quarter. Bailard Inc.’s holdings in QUALCOMM were worth $19,036,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of QCOM. Avior Wealth Management LLC boosted its position in shares of QUALCOMM by 1.7% in the third quarter. Avior Wealth Management LLC now owns 11,458 shares of the wireless technology company’s stock valued at $1,273,000 after acquiring an additional 186 shares during the period. Founders Financial Securities LLC bought a new stake in QUALCOMM during the third quarter valued at approximately $327,000. GHP Investment Advisors Inc. lifted its position in QUALCOMM by 101.4% during the third quarter. GHP Investment Advisors Inc. now owns 741 shares of the wireless technology company’s stock valued at $81,000 after purchasing an additional 373 shares during the last quarter. Meridian Wealth Management LLC lifted its position in QUALCOMM by 92.5% during the third quarter. Meridian Wealth Management LLC now owns 16,394 shares of the wireless technology company’s stock valued at $1,823,000 after purchasing an additional 7,878 shares during the last quarter. Finally, Garrison Bradford & Associates Inc. lifted its position in QUALCOMM by 26.5% during the third quarter. Garrison Bradford & Associates Inc. now owns 19,274 shares of the wireless technology company’s stock valued at $2,141,000 after purchasing an additional 4,035 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of several research reports. Piper Sandler lifted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Benchmark initiated coverage on shares of QUALCOMM in a research note on Tuesday. They set a “buy” rating and a $200.00 price target on the stock. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research note on Thursday, February 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $158.86.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was 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 owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 1.4 %

QUALCOMM stock traded up $2.28 during mid-day trading on Wednesday, reaching $163.63. 6,088,578 shares of the company traded hands, compared to its average volume of 8,570,011. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The firm’s 50 day moving average price is $165.43 and its 200 day moving average price is $143.97. The firm has a market capitalization of $182.61 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 2.20 and a beta of 1.41. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. On average, analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 46.38%.

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.