QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,227 shares of the wireless technology company’s stock after selling 10,685 shares during the quarter. Yousif Capital Management LLC’s holdings in QUALCOMM were worth $22,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. lifted its holdings in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Legacy Financial Group LLC purchased a new position in QUALCOMM in the 3rd quarter valued at about $29,000. Fortitude Family Office LLC purchased a new stake in QUALCOMM in the 4th quarter worth approximately $35,000. Cranbrook Wealth Management LLC grew its holdings in QUALCOMM by 68.0% in the 4th 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 period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its holdings in shares of QUALCOMM by 184.3% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after purchasing an additional 163,963 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly 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 available through the SEC website. Also, 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 transaction of $520,470.00. Following 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. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 over the last 90 days. 0.08% of the stock is owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. Canaccord Genuity Group increased their target price on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Cantor Fitzgerald increased their price objective on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. TD Cowen lifted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Piper Sandler lifted their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.86.

QUALCOMM Price Performance

Shares of QCOM stock traded up $1.17 during trading on Tuesday, hitting $161.35. The company had a trading volume of 6,605,127 shares, compared to its average volume of 8,601,207. The firm has a market capitalization of $180.07 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41. QUALCOMM Incorporated has a one year low of $101.47 and a one year 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 stock’s 50-day moving average price is $165.24 and its 200 day moving average price is $143.83.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities analysts expect that QUALCOMM Incorporated will post 7.69 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. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is 46.38%.

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.