Ridgewood Investments LLC Sells 5,600 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ridgewood Investments LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 32.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,415 shares of the wireless technology company’s stock after selling 5,600 shares during the quarter. QUALCOMM makes up about 1.0% of Ridgewood Investments LLC’s holdings, making the stock its 17th largest position. Ridgewood Investments LLC’s holdings in QUALCOMM were worth $1,933,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in QUALCOMM in the fourth quarter worth $2,507,978,000. International Assets Investment Management LLC grew its position in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. grew its position 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 in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of QUALCOMM by 48.8% in the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock valued at $480,794,000 after purchasing an additional 1,090,504 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 1.3 %

QCOM stock traded down $2.82 during midday trading on Friday, hitting $212.65. The company’s stock had a trading volume of 9,891,239 shares, compared to its average volume of 9,105,139. The company has a market cap of $237.32 billion, a PE ratio of 28.44, a P/E/G ratio of 2.77 and a beta of 1.30. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $191.54 and its 200-day moving average is $166.34.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 7.83 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, May 30th were issued a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares in the company, valued at approximately $44,068,735.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Neil Smit sold 3,069 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the completion of the sale, the director now owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock valued at $8,206,875. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Susquehanna boosted their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research report on Wednesday, April 10th. Mizuho boosted their target price on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Citigroup lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $188.74.

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.