Yousif Capital Management LLC Sells 10,685 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Yousif Capital Management LLC reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,227 shares of the wireless technology company's stock after selling 10,685 shares during the period. Yousif Capital Management LLC's holdings in QUALCOMM were worth $22,740,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. lifted its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 122 shares during the period. Legacy Financial Group LLC purchased a new position in QUALCOMM during the third quarter valued at $29,000. Fortitude Family Office LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC grew its position in shares of QUALCOMM by 68.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company's stock worth $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its position in shares of QUALCOMM by 184.3% in the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company's stock worth $37,000 after buying an additional 163,963 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares of the company's stock, valued at approximately $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Neil Martin sold 371 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

QCOM traded up $1.17 during trading on Tuesday, hitting $161.35. The company's stock had a trading volume of 6,605,127 shares, compared to its average volume of 8,601,207. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $177.59. The business's 50 day simple moving average is $165.24 and its 200-day simple moving average is $143.83. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The firm has a market cap of $180.07 billion, a PE ratio of 23.38, a P/E/G ratio of 2.15 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion for the quarter, compared to analysts' expectations of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.69 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM's previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM's payout ratio is 46.38%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Mizuho boosted their price objective on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, February 1st. Canaccord Genuity Group lifted their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, January 19th. Benchmark began coverage on QUALCOMM in a research note on Tuesday. They issued a "buy" rating and a $200.00 target price on the stock. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 7th. Finally, Citigroup downgraded shares of QUALCOMM from a "buy" rating to a "neutral" rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM has a consensus rating of "Moderate Buy" and an average target price of $158.86.

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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