QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Strategic Financial Services Inc.

Strategic Financial Services Inc. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,176 shares of the wireless technology company’s stock after selling 545 shares during the quarter. Strategic Financial Services Inc.’s holdings in QUALCOMM were worth $2,946,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group bought a new stake in QUALCOMM in the fourth quarter valued at $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at $29,000. Synergy Asset Management LLC bought a new stake in QUALCOMM in the fourth quarter valued at $38,000. Finally, Legacy Investment Solutions LLC bought a new stake in QUALCOMM in the third quarter valued at $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Up 1.3 %

QUALCOMM stock opened at $158.26 on Thursday. The company has a 50 day moving average price of $164.54 and a 200 day moving average price of $164.15. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market capitalization of $175.04 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis 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%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on 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 sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last quarter. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on QCOM. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Piper Sandler cut their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Evercore ISI cut their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $205.32.

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.