Creative Capital Management Investments LLC Sells 302 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Creative Capital Management Investments LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% during the 1st quarter, Holdings Channel reports. The firm owned 4,742 shares of the wireless technology company’s stock after selling 302 shares during the period. QUALCOMM comprises 0.3% of Creative Capital Management Investments LLC’s investment portfolio, making the stock its 21st biggest position. Creative Capital Management Investments LLC’s holdings in QUALCOMM were worth $728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Eagle Strategies LLC increased its holdings in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company’s stock worth $219,000 after buying an additional 59 shares during the last quarter. Clark Capital Management Group Inc. increased its holdings in shares of QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company’s stock worth $264,000 after buying an additional 59 shares during the last quarter. TBH Global Asset Management LLC increased its holdings in shares of QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc increased its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after buying an additional 64 shares during the last quarter. Finally, Cassady Schiller Wealth Management LLC increased its holdings in shares of QUALCOMM by 15.8% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after buying an additional 65 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QUALCOMM stock opened at $154.46 on Wednesday. The stock has a market cap of $169.60 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The firm has a 50-day moving average of $146.71 and a two-hundred day moving average of $155.12.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm had revenue of $10.98 billion during the quarter, compared to analysts’ expectations of $10.58 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The company’s revenue was up 17.0% compared to the same quarter last year. On average, research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is presently 36.25%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on QCOM. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Bank of America dropped their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research note on Thursday, May 1st. TD Cowen dropped their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $190.28.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider now owns 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 57,728 shares of the company’s stock, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 423,464 shares of company stock valued at $8,135,164. 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.