Denali Advisors LLC Has $119,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Denali Advisors LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 41.7% during the 1st quarter, Holdings Channel reports. The fund owned 700 shares of the wireless technology company’s stock after selling 500 shares during the period. Denali Advisors LLC’s holdings in QUALCOMM were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of QCOM. Vanguard Group Inc. increased its position in QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after acquiring an additional 483,390 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Morgan Stanley raised its position in shares of QUALCOMM by 2.2% in the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Norges Bank bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Finally, Putnam Investments LLC boosted its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after buying an additional 263,482 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.8 %

QUALCOMM stock traded up $3.65 during trading hours on Wednesday, hitting $203.81. The stock had a trading volume of 4,991,555 shares, compared to its average volume of 9,286,894. The stock’s 50-day moving average price is $197.39 and its 200-day moving average price is $170.48. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a quick ratio of 1.98, a current ratio of 2.65 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $227.45 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.85 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.67%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 45.70%.

Analyst Ratings Changes

Several equities analysts have weighed in on QCOM shares. Argus lifted their price objective on QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Benchmark reaffirmed a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday, May 3rd. Mizuho boosted their price objective on shares of QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. KeyCorp lifted their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, UBS Group upped their price objective on QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $192.13.

Insider Buying and Selling at QUALCOMM

In related news, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,623.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Neil Smit sold 3,069 shares of QUALCOMM stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the transaction, the director now directly owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 45,185 shares of company stock worth $8,456,475 in the last three months. 0.08% of the stock is currently owned by company insiders.

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.