Spring Capital Management LLC Sells 1,017 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Spring Capital Management LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,498 shares of the wireless technology company’s stock after selling 1,017 shares during the quarter. QUALCOMM comprises 6.0% of Spring Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Spring Capital Management LLC’s holdings in QUALCOMM were worth $7,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its stake in QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after buying an additional 24,566,978 shares during the period. Norges Bank purchased a new position in QUALCOMM during the 4th quarter worth $1,467,351,000. Cowa LLC acquired a new stake in shares of QUALCOMM in the 1st quarter worth $94,000. Morgan Stanley lifted its stake in shares of QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after acquiring an additional 3,929,586 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.4 %

Shares of QCOM opened at $168.43 on Thursday. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market capitalization of $187.97 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. The company has a 50-day simple moving average of $157.05 and a 200-day simple moving average of $135.64.

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

QUALCOMM Announces Dividend

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

Insiders Place Their Bets

In related news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $2,747,520. The disclosure for this sale can be found here. Insiders sold a total of 34,360 shares of company stock worth $5,457,048 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of several recent research reports. Rosenblatt Securities raised their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. KeyCorp lifted their price target on shares of QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Piper Sandler lifted their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $119.00 to $132.00 in a report on Friday, December 8th. Finally, Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

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.