Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 251,790 shares of the wireless technology company’s stock after selling 2,000 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in QUALCOMM were worth $37,393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Glass Jacobson Investment Advisors llc increased its stake in QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after acquiring an additional 68 shares during the last quarter. Chilton Capital Management LLC increased its stake in QUALCOMM by 1.9% during the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the last quarter. Means Investment CO. Inc. increased its stake in QUALCOMM by 1.2% during the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares during the last quarter. Marino Stram & Associates LLC increased its stake in QUALCOMM by 2.5% during the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after acquiring an additional 73 shares during the last quarter. Finally, First Command Advisory Services Inc. increased its stake in QUALCOMM by 6.1% during the fourth quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock worth $198,000 after acquiring an additional 79 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on QCOM. Rosenblatt Securities boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research report on Thursday, February 1st. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Barclays boosted their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Susquehanna boosted their target price on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Stock Up 1.6 %

Shares of QCOM stock traded up $2.55 during trading hours on Monday, reaching $160.18. 7,847,503 shares of the company’s stock were exchanged, compared to its average volume of 8,626,261. The stock’s 50 day moving average is $165.01 and its 200-day moving average is $143.47. The company has a market cap of $178.76 billion, a price-to-earnings ratio of 23.21, a P/E/G ratio of 2.15 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. Analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was 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 of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the sale, the chief executive officer now directly owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 in the last ninety days. Company insiders own 0.08% of the company’s stock.

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.