Kensington Investment Counsel LLC Has $3.63 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kensington Investment Counsel LLC reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the 4th quarter, Holdings Channel reports. The fund owned 23,608 shares of the wireless technology company’s stock after selling 740 shares during the quarter. QUALCOMM makes up approximately 1.5% of Kensington Investment Counsel LLC’s portfolio, making the stock its 22nd biggest position. Kensington Investment Counsel LLC’s holdings in QUALCOMM were worth $3,627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $29,000. Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM in the 3rd quarter worth approximately $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $157.95 on Tuesday. The firm has a market cap of $174.69 billion, a PE ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a fifty day moving average price of $164.64 and a 200 day moving average price of $164.32.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Research analysts predict that QUALCOMM Incorporated will post 9.39 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. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is 36.32%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on QCOM shares. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Company 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.