Callan Capital LLC Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Callan Capital LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 64.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,587 shares of the wireless technology company’s stock after selling 2,847 shares during the period. Callan Capital LLC’s holdings in QUALCOMM were worth $229,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Peoples Bank OH acquired a new stake in shares of QUALCOMM in the 4th quarter valued at about $219,000. HF Advisory Group LLC bought a new position in QUALCOMM in the 3rd quarter worth about $629,000. Bank Hapoalim BM boosted its holdings in shares of QUALCOMM by 35.0% in the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares in the last quarter. NewEdge Wealth LLC lifted its stake in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after purchasing an additional 11,285 shares during the last quarter. Finally, Sather Financial Group Inc lifted its position in shares of QUALCOMM by 5.8% in the 3rd quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock valued at $36,377,000 after acquiring an additional 18,090 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,260 shares of company stock worth $5,973,728. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM traded up $2.36 during midday trading on Friday, hitting $165.66. The company had a trading volume of 7,140,396 shares, compared to its average volume of 8,523,626. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a market capitalization of $184.88 billion, a PE ratio of 24.01, a P/E/G ratio of 2.24 and a beta of 1.41. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The firm’s 50-day simple moving average is $165.84 and its 200-day simple moving average is $144.47.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio is 46.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho increased their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Piper Sandler increased their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Evercore ISI assumed coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Finally, Cantor Fitzgerald raised their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.86.

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.