QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Headinvest LLC

Headinvest LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the 4th quarter, HoldingsChannel reports. The fund owned 6,732 shares of the wireless technology company’s stock after selling 98 shares during the quarter. Headinvest LLC’s holdings in QUALCOMM were worth $1,034,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Tallon Kerry Patrick acquired a new stake in shares of QUALCOMM during the 4th quarter worth approximately $207,000. LaFleur & Godfrey LLC raised its position in shares of QUALCOMM by 10.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 3,126 shares of the wireless technology company’s stock worth $480,000 after purchasing an additional 300 shares during the period. Atomi Financial Group Inc. raised its position in shares of QUALCOMM by 3.0% during the 4th quarter. Atomi Financial Group Inc. now owns 4,839 shares of the wireless technology company’s stock worth $743,000 after purchasing an additional 143 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in QUALCOMM by 7.0% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 463,018 shares of the wireless technology company’s stock worth $71,129,000 after buying an additional 30,253 shares in the last quarter. Finally, Perfromance Wealth Partners LLC grew its holdings in QUALCOMM by 3.2% in the 4th quarter. Perfromance Wealth Partners LLC now owns 5,015 shares of the wireless technology company’s stock worth $770,000 after buying an additional 155 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,312 shares of company stock valued at $1,948,379. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QCOM. Robert W. Baird decreased their price objective on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 price target on shares of QUALCOMM in a research note on Tuesday, April 29th. Citigroup decreased their price target on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Finally, Evercore ISI decreased their price target on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $192.08.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $151.31 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The business has a fifty day simple moving average of $145.89 and a 200 day simple moving average of $156.67. The firm has a market cap of $166.14 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.25%.

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.