Valueworks LLC Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Valueworks LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,771 shares of the wireless technology company's stock after selling 6,310 shares during the quarter. QUALCOMM accounts for approximately 3.0% of Valueworks LLC's holdings, making the stock its 17th biggest holding. Valueworks LLC's holdings in QUALCOMM were worth $8,875,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Eagle Strategies LLC increased 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 buying an additional 59 shares during the period. Clark Capital Management Group Inc. increased its position in QUALCOMM by 3.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after purchasing an additional 59 shares during the period. TBH Global Asset Management LLC increased its position in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after purchasing an additional 63 shares during the period. PDS Planning Inc increased its position in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares during the period. Finally, Toth Financial Advisory Corp increased its position in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after purchasing an additional 65 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on QCOM. Robert W. Baird reduced their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. 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 report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, May 1st. Finally, Evercore ISI dropped their target price on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $192.08.

QUALCOMM Trading Up 0.8%

QUALCOMM stock opened at $153.70 on Tuesday. The firm has a 50 day moving average of $145.96 and a 200 day moving average of $156.72. The firm has a market capitalization of $168.76 billion, a price-to-earnings ratio of 16.42, a P/E/G 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 company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the prior year, the firm posted $2.44 EPS. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given 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 dividend on an annualized basis and a yield of 2.32%. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total transaction of $220,384.00. Following the transaction, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock worth $1,948,379 over the last three months. 0.08% of the stock is owned by insiders.

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.

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