Altfest L J & Co. Inc. Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Altfest L J & Co. Inc. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,084 shares of the wireless technology company’s stock after selling 269 shares during the period. Altfest L J & Co. Inc.’s holdings in QUALCOMM were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of QCOM. Fairfield Bush & CO. raised its holdings in QUALCOMM by 1.3% during the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after buying an additional 390 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in QUALCOMM by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after purchasing an additional 245,335 shares during the period. Merit Financial Group LLC boosted its position in shares of QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after acquiring an additional 555 shares during the period. NewEdge Advisors LLC grew its position in QUALCOMM by 23.8% in the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after purchasing an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of QUALCOMM by 30.4% during the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after buying an additional 79,827 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QCOM. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a research report on Monday, March 4th. KeyCorp raised their price objective on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Finally, Morgan Stanley cut shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $119.00 to $132.00 in a research note on Friday, December 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.71.

QUALCOMM Stock Performance

QCOM stock traded down $0.37 during midday trading on Thursday, reaching $168.76. 1,615,843 shares of the company were exchanged, compared to its average volume of 8,945,640. The firm has a market capitalization of $188.34 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The business has a 50-day moving average price of $157.05 and a two-hundred day moving average price of $135.64.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Equities research analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Transactions at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the transaction, the chief executive officer now directly owns 16,200 shares in the company, valued at approximately $2,747,520. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 689 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,360 shares of company stock valued at $5,457,048. 0.08% of the stock is currently owned by insiders.

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.