Choreo LLC Sells 3,560 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Choreo LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,259 shares of the wireless technology company’s stock after selling 3,560 shares during the period. Choreo LLC’s holdings in QUALCOMM were worth $5,905,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in QUALCOMM during the third quarter worth $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $175.86 on Thursday. The company has a market cap of $195.38 billion, a P/E ratio of 19.56, a PEG ratio of 2.87 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $161.31 and a two-hundred day moving average price of $165.95. QUALCOMM Incorporated has a 1-year low of $142.43 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 37.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group boosted their price target on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Loop Capital began coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,981 shares of company stock worth $4,000,870. 0.08% of the stock is currently owned by company 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.