Sterling Investment Management LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sterling Investment Management LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,242 shares of the wireless technology company’s stock after selling 196 shares during the quarter. Sterling Investment Management LLC’s holdings in QUALCOMM were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. DHJJ Financial Advisors Ltd. bought a new position in QUALCOMM during the 3rd quarter valued at $26,000. Financial Gravity Asset Management Inc. raised its holdings in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Milestone Investment Advisors LLC acquired a new stake in shares of QUALCOMM during the first quarter worth $26,000. Pacifica Partners Inc. raised its holdings in shares of QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after purchasing an additional 150 shares during the period. Finally, Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $29,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

QCOM has been the topic of a number of research reports. TD Cowen increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price objective on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. KeyCorp increased their target price on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Piper Sandler increased their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.71.

Insider Transactions at QUALCOMM

In related news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, January 19th. The shares were sold at an average price of $149.50, for a total value of $1,210,950.00. Following the transaction, the chief executive officer now owns 32,400 shares in the company, valued at approximately $4,843,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The disclosure for this sale can be found here. Insiders have sold a total of 34,360 shares of company stock worth $5,457,048 in the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Performance

QCOM stock opened at $169.13 on Thursday. The stock has a market cap of $188.75 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. 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 50 day simple moving average of $157.05 and a 200 day simple moving average of $135.64. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm 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%. Research analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio is 46.38%.

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.