Vident Advisory LLC Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Vident Advisory LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 61.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,365 shares of the wireless technology company's stock after selling 117,105 shares during the period. Vident Advisory LLC's holdings in QUALCOMM were worth $11,271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of QCOM. Tallon Kerry Patrick purchased a new position in QUALCOMM in the 4th quarter valued at approximately $207,000. Merit Financial Group LLC boosted its holdings in QUALCOMM by 40.4% in the 4th quarter. Merit Financial Group LLC now owns 22,889 shares of the wireless technology company's stock valued at $3,516,000 after purchasing an additional 6,591 shares during the period. Sax Wealth Advisors LLC boosted its holdings in QUALCOMM by 43.7% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,776 shares of the wireless technology company's stock valued at $273,000 after purchasing an additional 540 shares during the period. Kera Capital Partners Inc. bought a new position in QUALCOMM in the 4th quarter valued at $212,000. Finally, Artemis Investment Management LLP boosted its holdings in QUALCOMM by 16.8% in the 4th quarter. Artemis Investment Management LLP now owns 75,508 shares of the wireless technology company's stock valued at $11,600,000 after purchasing an additional 10,867 shares during the period. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock worth $1,948,379 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

QCOM stock opened at $153.70 on Tuesday. The firm's 50-day moving average price is $145.96 and its two-hundred day moving average price is $156.72. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63. The stock has a market capitalization of $168.76 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.01 and a beta of 1.29. 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 quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $10.58 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a $0.89 dividend. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.32%. QUALCOMM's payout ratio is presently 36.25%.

Analysts Set New Price Targets

Several research analysts have commented on QCOM shares. Wells Fargo & Company cut their price target on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Susquehanna cut their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and issued a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Robert W. Baird cut their price target 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, TD Cowen cut their price target on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $192.08.

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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