Northcape Wealth Management LLC Sells 494 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Northcape Wealth Management LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,491 shares of the wireless technology company’s stock after selling 494 shares during the quarter. Northcape Wealth Management LLC’s holdings in QUALCOMM were worth $2,096,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Fortitude Family Office LLC purchased a new stake in QUALCOMM in the 4th quarter worth $35,000. Cranbrook Wealth Management LLC raised its position in shares of QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Legacy Financial Group LLC bought a new position in QUALCOMM during the third quarter valued at approximately $29,000. Finally, Buck Wealth Strategies LLC bought a new stake in QUALCOMM during the third quarter worth approximately $40,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM traded down $3.35 during trading hours on Tuesday, reaching $165.85. The stock had a trading volume of 6,908,978 shares, compared to its average volume of 8,481,063. The stock has a market capitalization of $185.09 billion, a PE ratio of 24.21, a PEG ratio of 2.27 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. 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’s 50-day moving average is $166.17 and its two-hundred day moving average is $145.34.

QUALCOMM (NASDAQ:QCOM) last announced 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 during the quarter, compared to analyst estimates of $9.50 billion. Research analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date 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 yield of 2.05%. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Neil Martin sold 371 shares of the business’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 completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on 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 $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 over the last quarter. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Mizuho raised their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. Cantor Fitzgerald boosted their target price on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Benchmark began coverage on QUALCOMM in a research report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.68.

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.