Norden Group LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Norden Group LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,378 shares of the wireless technology company’s stock after selling 1,473 shares during the quarter. Norden Group LLC’s holdings in QUALCOMM were worth $1,501,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. raised its position in 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 acquiring an additional 122 shares during the period. Fortitude Family Office LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth about $35,000. Cranbrook Wealth Management LLC raised its position in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Legacy Financial Group LLC purchased a new position in QUALCOMM in the 3rd quarter valued at about $29,000. Finally, Buck Wealth Strategies LLC acquired a new stake in QUALCOMM in the 3rd quarter worth about $40,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Down 1.1 %

NASDAQ QCOM traded down $1.90 during trading hours on Tuesday, reaching $167.30. The company had a trading volume of 2,662,373 shares, compared to its average volume of 8,428,076. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $186.71 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 2.27 and a beta of 1.41. The stock has a 50-day moving average of $166.17 and a 200 day moving average of $145.34. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. As a group, research analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Analyst Ratings Changes

A number of brokerages have weighed in on QCOM. Cantor Fitzgerald raised their price objective on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, April 8th. KeyCorp upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Rosenblatt Securities lifted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.68.

Insider Activity

In related news, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the firm’s 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 of the company’s stock, valued at approximately $3,875,850. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

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.