Captrust Financial Advisors Sells 53,358 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Captrust Financial Advisors cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 610,972 shares of the wireless technology company's stock after selling 53,358 shares during the period. Captrust Financial Advisors owned 0.06% of QUALCOMM worth $93,857,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM during the fourth quarter worth $26,000. Banque Transatlantique SA bought a new position in shares of QUALCOMM during the fourth quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at about $29,000. Finally, CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM in the 4th quarter valued at approximately $33,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of the 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 completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,599 shares of company stock worth $5,733,290 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QCOM. Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Rosenblatt Securities reiterated a "buy" rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. JPMorgan Chase & Co. restated an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Finally, StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and a consensus target price of $192.58.

QUALCOMM Trading Up 3.3 %

QCOM traded up $4.64 during trading on Wednesday, hitting $144.54. The company's stock had a trading volume of 10,195,505 shares, compared to its average volume of 8,885,892. The firm has a market capitalization of $158.70 billion, a P/E ratio of 15.44, a PEG ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock's fifty day moving average price is $146.99 and its 200-day moving average price is $158.00.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the business posted $2.44 EPS. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.46%. QUALCOMM's dividend payout ratio is 36.25%.

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.