Stockman Wealth Management Inc. Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Stockman Wealth Management Inc. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,764 shares of the wireless technology company’s stock after selling 273 shares during the quarter. Stockman Wealth Management Inc.’s holdings in QUALCOMM were worth $978,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the period. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. Barclays PLC grew its holdings in QUALCOMM by 53.6% in the third quarter. Barclays PLC now owns 5,283,274 shares of the wireless technology company’s stock valued at $586,760,000 after purchasing an additional 1,842,868 shares during the period. Invesco Ltd. grew its holdings in QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after purchasing an additional 1,253,173 shares during the period. Finally, California Public Employees Retirement System grew its holdings in QUALCOMM by 48.8% in the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after purchasing an additional 1,090,504 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on QCOM. KeyCorp boosted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Thursday, February 1st. Cantor Fitzgerald lifted their price target 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. Canaccord Genuity Group lifted their price target on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Finally, Barclays lifted their price target on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.90.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM 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 directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock worth $5,973,728 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

QCOM stock traded up $2.55 during trading on Monday, hitting $160.18. 7,847,503 shares of the company’s stock traded hands, compared to its average volume of 8,626,261. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The stock has a fifty day moving average price of $165.01 and a two-hundred day moving average price of $143.47. The stock has a market capitalization of $178.76 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released 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. The business had revenue of $9.94 billion during 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%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business 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 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is currently 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.