Knuff & Co LLC Sells 6,658 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Knuff & Co LLC has reduced its stake in QUALCOMM Incorporated by 45.3%, selling 6,658 shares and now holding 8,038 shares valued at $1,235,000.
• Analysts have set varying price targets for QUALCOMM, with Evercore ISI lowering their target from $179 to $157 and JPMorgan Chase & Co. raising theirs from $190 to $200, while the stock currently has an average price target of $181.10.
• Qualcomm announced a quarterly dividend of $0.89 per share, which translates to an annualized dividend of $3.56 and a dividend yield of 2.3%.

Knuff & Co LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 45.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,038 shares of the wireless technology company's stock after selling 6,658 shares during the quarter. Knuff & Co LLC's holdings in QUALCOMM were worth $1,235,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. Eagle Strategies LLC grew its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the last quarter. Clark Capital Management Group Inc. grew its stake in shares of QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock worth $264,000 after purchasing an additional 59 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of QUALCOMM by 2.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock worth $509,000 after purchasing an additional 69 shares during the last quarter. Collaborative Wealth Managment Inc. grew its stake in shares of QUALCOMM by 5.1% in the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock worth $217,000 after purchasing an additional 69 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its stake in shares of QUALCOMM by 0.3% in the first quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock worth $3,879,000 after purchasing an additional 69 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI lowered their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Loop Capital lowered their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price objective on shares of QUALCOMM from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Robert W. Baird lowered 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. Finally, Citigroup restated a "hold" rating on shares of QUALCOMM in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $181.10.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $148.10, for a total value of $493,617.30. Following the sale, the chief financial officer directly owned 43,207 shares in the company, valued at $6,398,956.70. The trade was a 7.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,352,355 in the last three months. Insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.2%

Shares of QCOM stock opened at $157.85 on Friday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The firm has a fifty day moving average price of $155.73 and a 200-day moving average price of $153.73. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company has a market cap of $170.32 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 2.30 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter in the previous year, the company earned $2.33 EPS. QUALCOMM's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.3%. QUALCOMM's payout ratio is 34.33%.

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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