Orion Capital Management LLC Sells 100 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Orion Capital Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 12,145 shares of the wireless technology company’s stock after selling 100 shares during the period. QUALCOMM accounts for about 1.0% of Orion Capital Management LLC’s holdings, making the stock its 19th biggest position. Orion Capital Management LLC’s holdings in QUALCOMM were worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in QCOM. Peoples Bank OH acquired a new position in shares of QUALCOMM during the fourth quarter worth about $219,000. HF Advisory Group LLC acquired a new position in shares of QUALCOMM during the third quarter worth about $629,000. Bank Hapoalim BM boosted its position in QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after purchasing an additional 9,192 shares during the last quarter. NewEdge Wealth LLC boosted its position in QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after purchasing an additional 11,285 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its position in QUALCOMM by 24.2% during the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock valued at $4,382,000 after purchasing an additional 7,682 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.4 %

Shares of NASDAQ:QCOM traded up $2.35 during midday trading on Wednesday, reaching $168.20. The company’s stock had a trading volume of 6,757,375 shares, compared to its average volume of 8,456,629. The firm has a 50 day moving average price of $166.45 and a two-hundred day moving average price of $145.75. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week 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 firm has a market capitalization of $187.71 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.32 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. 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 dividend yield of 2.02%. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Buying and Selling at QUALCOMM

In other news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on QCOM shares. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Rosenblatt Securities increased their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Benchmark started coverage on QUALCOMM in a research report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 price target for the company. Cantor Fitzgerald increased their price target on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Mizuho raised their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.68.

QUALCOMM 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.