Massachusetts Wealth Management Sells 75 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Massachusetts Wealth Management decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,773 shares of the wireless technology company’s stock after selling 75 shares during the period. Massachusetts Wealth Management’s holdings in QUALCOMM were worth $733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp raised its stake in QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after purchasing an additional 870,814 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of QUALCOMM by 30.2% during the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in QUALCOMM by 1.6% in the third quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after acquiring an additional 110,828 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.6 %

QCOM stock opened at $173.04 on Wednesday. QUALCOMM Incorporated has a fifty-two week low of $141.21 and a fifty-two week high of $230.63. The company has a market capitalization of $192.25 billion, a price-to-earnings ratio of 19.25, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. The business’s 50 day moving average price is $161.31 and its two-hundred day moving average price is $165.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. Morgan Stanley reduced their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Wednesday, November 20th. Finally, KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and a consensus target price of $206.57.

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.