Fosun International Ltd Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Fosun International Ltd lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,600 shares of the wireless technology company’s stock after selling 1,970 shares during the quarter. QUALCOMM accounts for 0.1% of Fosun International Ltd’s portfolio, making the stock its 24th biggest position. Fosun International Ltd’s holdings in QUALCOMM were worth $665,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. bought a new stake in QUALCOMM in the fourth quarter valued at approximately $32,000. Cherry Tree Wealth Management LLC raised its holdings in shares of QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 115 shares in the last quarter. Financial Gravity Asset Management Inc. raised its holdings in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $35,000. Finally, Cranbrook Wealth Management LLC raised its holdings 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 valued at $36,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.3 %

Shares of NASDAQ QCOM traded down $0.61 during trading hours on Thursday, hitting $179.94. 777,263 shares of the company traded hands, compared to its average volume of 8,608,742. The stock has a market capitalization of $200.81 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.27 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average price is $168.62 and its 200 day moving average price is $148.09. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $184.31.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 45.70%.

Analysts Set New Price Targets

A number of research firms have issued reports on QCOM. Wells Fargo & Company increased their price objective on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $180.48.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 46,316 shares of company stock valued at $7,796,128 in the last quarter. 0.08% of the stock is 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.