QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 59,744 shares of the wireless technology company’s stock after selling 2,419 shares during the period. Highland Capital Management LLC’s holdings in QUALCOMM were worth $8,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in QCOM. Moneta Group Investment Advisors LLC increased its position in shares of QUALCOMM by 117,461.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after acquiring an additional 24,566,978 shares during the period. Norges Bank purchased a new stake in QUALCOMM in the fourth quarter valued at $1,467,351,000. Cowa LLC purchased a new stake in QUALCOMM in the first quarter valued at $94,000. Morgan Stanley boosted its holdings in QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on QCOM. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. lowered their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. TD Cowen increased their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Monday, March 4th. Finally, Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $119.00 to $132.00 in a research note on Friday, December 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.71.

QUALCOMM Trading Up 1.2 %

QCOM opened at $169.13 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company’s 50 day simple moving average is $157.05 and its two-hundred day simple moving average is $135.64. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The firm has a market capitalization of $188.75 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Analysts expect that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s payout ratio is presently 46.38%.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other QUALCOMM news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the sale, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction that occurred on 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 directly owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,360 shares of company stock valued at $5,457,048. 0.08% of the stock is currently owned by company insiders.

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.