Valueworks LLC Sells 6,310 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Valueworks LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,771 shares of the wireless technology company's stock after selling 6,310 shares during the period. QUALCOMM comprises 3.0% of Valueworks LLC's portfolio, making the stock its 17th biggest position. Valueworks LLC's holdings in QUALCOMM were worth $8,875,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after buying an additional 4,955 shares in the last quarter. Howard Bailey Securities LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $240,000. Greenup Street Wealth Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $2,256,000. Teza Capital Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $1,541,000. Finally, MFA Wealth Services acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $457,000. Institutional investors and hedge funds own 74.35% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on QCOM. Susquehanna reduced their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Loop Capital reduced their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Thursday. Wells Fargo & Company reduced their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup reduced their price target on shares of QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has an average rating of "Hold" and an average target price of $192.08.

QUALCOMM Stock Down 1.4%

QCOM stock traded down $1.99 during midday trading on Friday, hitting $145.38. The company's stock had a trading volume of 8,991,695 shares, compared to its average volume of 8,849,286. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company's fifty day moving average price is $145.46 and its 200 day moving average price is $156.29. The stock has a market capitalization of $159.63 billion, a P/E ratio of 15.53, a PEG ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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 period in the previous year, the business earned $2.44 EPS. The company's revenue was up 17.0% compared to the same quarter last year. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company 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 dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. QUALCOMM's payout ratio is currently 36.25%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 269 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $131.10, for a total transaction of $35,265.90. Following the transaction, the chief financial officer now directly owns 57,728 shares in the company, valued at $7,568,140.80. The trade was a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock worth $1,818,305 in the last ninety days. Insiders own 0.08% of the company's stock.

About QUALCOMM

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.