Flagship Harbor Advisors LLC Sells 3,492 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Flagship Harbor Advisors LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,584 shares of the wireless technology company’s stock after selling 3,492 shares during the period. Flagship Harbor Advisors LLC’s holdings in QUALCOMM were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of QUALCOMM during the second quarter valued at about $896,000. Ascent Group LLC boosted its holdings in QUALCOMM by 13.4% during the 2nd quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock worth $564,000 after acquiring an additional 335 shares during the last quarter. Algert Global LLC bought a new stake in QUALCOMM in the 2nd quarter worth about $366,000. Magnolia Capital Advisors LLC purchased a new stake in QUALCOMM in the 2nd quarter valued at about $1,340,000. Finally, NewEdge Advisors LLC lifted its position in shares of QUALCOMM by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 79,506 shares of the wireless technology company’s stock worth $15,836,000 after buying an additional 19,744 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QCOM. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company raised their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Stock Down 0.5 %

QCOM stock opened at $171.18 on Tuesday. QUALCOMM Incorporated has a 1-year low of $139.26 and a 1-year high of $230.63. The stock has a market cap of $190.18 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average is $159.49 and its 200 day moving average is $167.27.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate 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.