QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Blue Chip Partners LLC

Blue Chip Partners LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,402 shares of the wireless technology company’s stock after selling 333 shares during the period. Blue Chip Partners LLC’s holdings in QUALCOMM were worth $1,291,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Creative Planning grew its position in QUALCOMM by 0.5% during the third quarter. Creative Planning now owns 403,811 shares of the wireless technology company’s stock worth $68,147,000 after buying an additional 2,086 shares during the period. Blue Trust Inc. grew its position in shares of QUALCOMM by 33.8% in the third quarter. Blue Trust Inc. now owns 14,197 shares of the wireless technology company’s stock valued at $2,414,000 after purchasing an additional 3,585 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in QUALCOMM by 2.7% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 4,528 shares of the wireless technology company’s stock valued at $770,000 after buying an additional 120 shares in the last quarter. Chicago Capital LLC grew its holdings in QUALCOMM by 1.3% during the 3rd quarter. Chicago Capital LLC now owns 31,014 shares of the wireless technology company’s stock valued at $5,274,000 after buying an additional 397 shares during the last quarter. Finally, E&G Advisors LP increased its position in QUALCOMM by 4.8% during the third quarter. E&G Advisors LP now owns 4,341 shares of the wireless technology company’s stock worth $738,000 after buying an additional 198 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

QCOM stock opened at $172.23 on Monday. The company has a market capitalization of $190.49 billion, a P/E ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $163.13 and a 200 day simple moving average of $165.39. QUALCOMM Incorporated has a fifty-two week low of $148.90 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several analysts have commented on QCOM shares. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. UBS Group increased their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Sanford C. Bernstein boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity at QUALCOMM

In other news, 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 value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,268 shares of company stock valued at $7,785,781. 0.08% of the stock is currently owned by corporate insiders.

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.