QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 15,686 shares of the wireless technology company’s stock after selling 621 shares during the quarter. GAMMA Investing LLC’s holdings in QUALCOMM were worth $2,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in QCOM. Massachusetts Financial Services Co. MA lifted its holdings in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company’s stock valued at $641,221,000 after purchasing an additional 3,047,947 shares in the last quarter. Pacer Advisors Inc. lifted its stake 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 valued at $542,688,000 after buying an additional 3,014,302 shares during the period. International Assets Investment Management LLC boosted its position in QUALCOMM by 17,357.3% during the third 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 boosted its position 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 acquiring an additional 1,989,725 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in QUALCOMM by 30.2% in the 3rd 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 acquiring an additional 1,741,432 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock opened at $153.64 on Friday. QUALCOMM Incorporated has a 12-month low of $134.94 and a 12-month high of $230.63. 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 company has a market capitalization of $170.69 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The firm’s fifty day moving average price is $160.89 and its 200 day moving average price is $172.78.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, research analysts forecast that QUALCOMM Incorporated will post 9.09 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QCOM. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Loop Capital initiated coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. TD Cowen raised shares of QUALCOMM to a “strong-buy” rating in a research note on Monday, September 16th. Evercore ISI raised their target price on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein upped their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.00.

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.