Zhang Financial LLC Trims Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Zhang Financial LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,168 shares of the wireless technology company’s stock after selling 341 shares during the period. Zhang Financial LLC’s holdings in QUALCOMM were worth $747,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc boosted its stake in shares of QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after acquiring an additional 68 shares during the last quarter. Chilton Capital Management LLC boosted its stake in shares of QUALCOMM by 1.9% during the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the last quarter. Means Investment CO. Inc. boosted its stake in shares of QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares during the last quarter. Marino Stram & Associates LLC boosted its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after acquiring an additional 73 shares during the last quarter. Finally, Certified Advisory Corp boosted its stake in shares of QUALCOMM by 0.7% during the 1st quarter. Certified Advisory Corp now owns 11,582 shares of the wireless technology company’s stock worth $1,770,000 after acquiring an additional 79 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD Cowen lifted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Mizuho lifted their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. Finally, KeyCorp lifted their target price on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Stock Performance

QUALCOMM stock opened at $157.63 on Friday. The company’s 50-day moving average price is $164.87 and its 200-day moving average price is $142.66. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market cap of $175.92 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share 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 firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.16%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,260 shares of company stock worth $5,973,728. Insiders own 0.08% of the company’s stock.

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.