CoreCap Advisors LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

CoreCap Advisors LLC lowered its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 54.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,604 shares of the wireless technology company's stock after selling 11,393 shares during the quarter. CoreCap Advisors LLC's holdings in QUALCOMM were worth $1,475,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM during the fourth quarter worth about $26,000. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust purchased a new position in QUALCOMM during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Benchmark cut their price target on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Loop Capital lowered their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Evercore ISI lowered their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $192.08.

QUALCOMM Stock Up 0.5 %

Shares of QCOM stock opened at $145.03 on Friday. The firm has a market cap of $159.24 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The stock has a 50 day moving average of $146.57 and a 200-day moving average of $157.74. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The business's revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced 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. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold 35,599 shares of company stock valued at $5,733,290 over the last 90 days. 0.08% of the stock is owned by company insiders.

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.

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