New Vernon Investment Management LLC Has $332,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

New Vernon Investment Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 38.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,160 shares of the wireless technology company’s stock after selling 1,365 shares during the period. New Vernon Investment Management LLC’s holdings in QUALCOMM were worth $332,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QCOM. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. TD Cowen dropped their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, QUALCOMM has an average rating of “Hold” and an average price target of $201.21.

QUALCOMM Trading Up 4.8 %

QCOM opened at $147.21 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The firm’s fifty day moving average is $150.61 and its two-hundred day moving average is $159.63. The firm has a market cap of $162.81 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.42%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $131.10, for a total transaction of $35,265.90. Following the completion of the transaction, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This represents a 0.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,666 shares of company stock worth $5,047,052. Company insiders own 0.08% of the company’s stock.

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.