Hardy Reed LLC Sells 935 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hardy Reed LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,819 shares of the wireless technology company’s stock after selling 935 shares during the period. Hardy Reed LLC’s holdings in QUALCOMM were worth $1,201,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter worth $27,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM during the 3rd quarter worth $36,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Finally, Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the transaction, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. This represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,964 shares of company stock worth $7,583,661 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 0.9 %

NASDAQ QCOM opened at $175.22 on Thursday. The business has a 50 day simple moving average of $164.01 and a 200 day simple moving average of $165.61. QUALCOMM Incorporated has a one year low of $148.90 and a one year high of $230.63. The stock has a market capitalization of $193.79 billion, a P/E ratio of 18.72, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly 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%. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.94%. QUALCOMM’s payout ratio is currently 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.