Financial Management Network Inc. Sells 126 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Management Network Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,389 shares of the wireless technology company’s stock after selling 126 shares during the quarter. Financial Management Network Inc.’s holdings in QUALCOMM were worth $377,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlas Legacy Advisors LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $254,000. Bank of Jackson Hole Trust purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $87,000. Klingman & Associates LLC boosted its position in shares of QUALCOMM by 11.4% during the fourth quarter. Klingman & Associates LLC now owns 1,994 shares of the wireless technology company’s stock valued at $306,000 after buying an additional 204 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of QUALCOMM by 0.3% during the fourth quarter. New York State Common Retirement Fund now owns 1,422,293 shares of the wireless technology company’s stock valued at $218,493,000 after buying an additional 3,739 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of QUALCOMM by 81.4% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 59,828 shares of the wireless technology company’s stock valued at $9,191,000 after buying an additional 26,845 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on QCOM. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Sanford C. Bernstein upped their price target on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the sale, the general counsel now owns 17,153 shares of the company’s stock, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock valued at $7,785,781 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 0.8 %

Shares of NASDAQ:QCOM opened at $173.64 on Wednesday. QUALCOMM Incorporated has a 52-week low of $148.90 and a 52-week high of $230.63. The firm has a market capitalization of $192.05 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.99 and a beta of 1.25. The stock has a 50 day moving average price of $163.70 and a 200-day moving average price of $165.54. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.