QUALCOMM Incorporated (NASDAQ:QCOM) Stock Holdings Reduced by Tufton Capital Management

Tufton Capital Management reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,998 shares of the wireless technology company’s stock after selling 3,215 shares during the period. QUALCOMM accounts for about 2.4% of Tufton Capital Management’s holdings, making the stock its 8th biggest position. Tufton Capital Management’s holdings in QUALCOMM were worth $11,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in QCOM. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the last quarter. Milestone Investment Advisors LLC purchased a new position in shares of QUALCOMM during the first quarter worth approximately $26,000. Legacy Financial Group LLC purchased a new position in shares of QUALCOMM during the third quarter worth approximately $29,000. Pacific Center for Financial Services purchased a new position in shares of QUALCOMM during the first quarter worth approximately $31,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of QUALCOMM during the first quarter worth approximately $32,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 32,400 shares of the company’s stock, valued at approximately $4,843,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 44,360 shares of company stock valued at $7,184,678 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on QCOM shares. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Thursday, February 1st. TD Cowen raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Mizuho raised their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Barclays raised their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Cantor Fitzgerald lifted their price objective on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.79 during midday trading on Thursday, reaching $163.53. The company’s stock had a trading volume of 2,792,693 shares, compared to its average volume of 8,527,376. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. 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 stock’s 50 day simple moving average is $164.47 and its 200 day simple moving average is $142.20. The firm has a market capitalization of $182.50 billion, a PE ratio of 23.67, a P/E/G ratio of 2.30 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during 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%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.69 earnings per share for the current 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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.08%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s payout ratio is 46.38%.

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.