Sterling Investment Management LLC Sells 116 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sterling Investment Management LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,037 shares of the wireless technology company’s stock after selling 116 shares during the period. Sterling Investment Management LLC’s holdings in QUALCOMM were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. Pacer Advisors Inc. increased its holdings in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after buying an additional 3,014,302 shares in the last quarter. International Assets Investment Management LLC grew its position in QUALCOMM by 17,357.3% during the 3rd quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock worth $499,320,000 after acquiring an additional 2,919,490 shares during the last quarter. Geode Capital Management LLC increased its holdings in QUALCOMM by 7.9% in the 3rd 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 in the last quarter. Van ECK Associates Corp raised its position in QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QCOM opened at $167.27 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a market cap of $185.84 billion, a PE ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The stock’s fifty day moving average price is $158.78 and its two-hundred day moving average price is $168.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. QUALCOMM’s payout ratio is 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Sanford C. Bernstein upped their price target 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. Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Finally, Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

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.