Bellevue Asset Management LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Bellevue Asset Management LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 20.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,065 shares of the wireless technology company’s stock after selling 275 shares during the period. Bellevue Asset Management LLC’s holdings in QUALCOMM were worth $164,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth $29,000. Planning Capital Management Corp boosted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth about $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,045 shares of company stock worth $7,752,423. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on QCOM. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Piper Sandler reduced their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company upped their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Up 2.6 %

Shares of NASDAQ:QCOM opened at $158.49 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a 50 day moving average of $164.73 and a two-hundred day moving average of $165.29. The company has a market capitalization of $175.29 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

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.