QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,161 shares of the wireless technology company’s stock after selling 389 shares during the quarter. QUALCOMM accounts for 2.0% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 19th largest position. Wells Trecaso Financial Group LLC’s holdings in QUALCOMM were worth $6,016,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in QCOM. Fred Alger Management LLC lifted its stake in QUALCOMM by 5.8% in the second quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock worth $11,149,000 after acquiring an additional 3,078 shares during the last quarter. APG Asset Management US Inc. raised its holdings in shares of QUALCOMM by 14.1% in the 2nd quarter. APG Asset Management US Inc. now owns 390,115 shares of the wireless technology company’s stock valued at $78,035,000 after purchasing an additional 48,179 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of QUALCOMM during the 2nd quarter worth $9,326,000. Drucker Wealth 3.0 LLC purchased a new position in QUALCOMM in the second quarter valued at $1,431,000. Finally, Delta Investment Management LLC raised its stake in QUALCOMM by 7.2% in the second quarter. Delta Investment Management LLC now owns 2,839 shares of the wireless technology company’s stock valued at $565,000 after buying an additional 191 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on QCOM shares. Sanford C. Bernstein upped their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, Loop Capital began coverage on shares of QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.57.

Insiders Place Their Bets

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Up 2.4 %

QUALCOMM stock opened at $174.36 on Friday. The stock’s 50 day moving average price is $159.05 and its 200 day moving average price is $168.04. The company has a market cap of $193.71 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.95%. QUALCOMM’s dividend payout ratio is presently 37.82%.

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.