LS Investment Advisors LLC Sells 1,219 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

LS Investment Advisors LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,734 shares of the wireless technology company’s stock after selling 1,219 shares during the period. QUALCOMM accounts for 2.1% of LS Investment Advisors LLC’s holdings, making the stock its 13th biggest position. LS Investment Advisors LLC’s holdings in QUALCOMM were worth $12,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in the business. Rheos Capital Works Inc. grew its holdings in QUALCOMM by 36.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after buying an additional 42,500 shares in the last quarter. HF Advisory Group LLC bought a new stake in shares of QUALCOMM during the 3rd quarter worth $629,000. DnB Asset Management AS lifted its position in shares of QUALCOMM by 31.1% during the 3rd quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock worth $100,893,000 after buying an additional 215,522 shares during the last quarter. Sather Financial Group Inc lifted its position in shares of QUALCOMM by 5.8% during the 3rd quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock worth $36,377,000 after buying an additional 18,090 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its position in QUALCOMM by 24.2% in the third quarter. Stratos Wealth Advisors LLC now owns 39,460 shares of the wireless technology company’s stock valued at $4,382,000 after purchasing an additional 7,682 shares during the last quarter. 71.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on QCOM shares. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Monday, March 4th. Mizuho increased their target price on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Rosenblatt Securities increased their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, TD Cowen increased their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.71.

Get Our Latest Analysis on QCOM

QUALCOMM Stock Down 0.4 %

QCOM stock opened at $170.10 on Friday. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. 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 stock’s 50 day moving average is $155.98 and its 200-day moving average is $134.52. The firm has a market capitalization of $189.83 billion, a PE ratio of 24.65, a P/E/G ratio of 2.32 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating 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 analyst estimates of $9.50 billion. Sell-side analysts expect that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a yield of 1.88%. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Buying and Selling

In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Friday, January 19th. The stock was sold at an average price of $149.50, for a total transaction of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares in the company, valued at $4,843,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Neil Martin sold 689 shares of QUALCOMM stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,360 shares of company stock worth $5,457,048. 0.08% of the stock is owned by company insiders.

About QUALCOMM

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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