QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by LGT Group Foundation

LGT Group Foundation cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 57.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,484 shares of the wireless technology company’s stock after selling 6,074 shares during the period. LGT Group Foundation’s holdings in QUALCOMM were worth $654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. raised 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 buying an additional 122 shares in the last quarter. Legacy Financial Group LLC acquired a new stake in shares of QUALCOMM during the third quarter worth about $29,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $32,000. Fortitude Family Office LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $35,000. Finally, Cranbrook Wealth Management LLC increased its position in shares of QUALCOMM by 68.0% during the fourth 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 in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.3 %

QCOM stock opened at $179.64 on Friday. The company’s 50 day simple moving average is $167.20 and its 200-day simple moving average is $146.11. The firm has a market capitalization of $200.48 billion, a PE ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $183.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. Equities analysts expect that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm 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 $0.85 dividend. The ex-dividend date is Thursday, May 30th. 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 1.89%. QUALCOMM’s dividend payout ratio is currently 43.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday. Susquehanna lifted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Bank of America raised their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wolfe Research lifted their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.36.

Insider Activity

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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’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 transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. Insiders have sold 44,260 shares of company stock worth $7,429,728 over the last ninety days. 0.08% of the stock is currently owned by insiders.

About QUALCOMM

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.