QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Blue Barn Wealth LLC

Blue Barn Wealth LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,056 shares of the wireless technology company’s stock after selling 65 shares during the quarter. Blue Barn Wealth LLC’s holdings in QUALCOMM were worth $623,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp grew its stake in shares of QUALCOMM by 1.7% in the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares in the last quarter. Geode Capital Management LLC increased its stake in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Bank of New York Mellon Corp lifted its position in shares of QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock worth $1,485,575,000 after purchasing an additional 193,236 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of QUALCOMM by 6.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after purchasing an additional 498,284 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in QUALCOMM by 1.6% during the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after buying an additional 110,828 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Sanford C. Bernstein increased their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Wells Fargo & Company upped their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $158.49 on Thursday. The stock has a fifty day moving average price of $164.73 and a 200 day moving average price of $165.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market cap of $175.29 billion, a PE ratio of 16.93, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. QUALCOMM’s dividend 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.