QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,411 shares of the wireless technology company’s stock after selling 6,000 shares during the quarter. QUALCOMM accounts for approximately 1.3% of New England Asset Management Inc.’s portfolio, making the stock its 15th biggest position. New England Asset Management Inc.’s holdings in QUALCOMM were worth $8,303,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peoples Bank OH acquired a new position in QUALCOMM during the 4th quarter worth approximately $219,000. Bank Hapoalim BM boosted its holdings in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock valued at $2,991,000 after buying an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. boosted its holdings in shares of QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after buying an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at $305,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. Morgan Stanley upped their price target on shares of QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $200.00 price objective on shares of QUALCOMM in a research report on Friday, May 3rd. Barclays upped their price objective on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, KeyCorp upped their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $188.74.

QUALCOMM Stock Up 3.3 %

QCOM traded up $6.87 during trading on Wednesday, hitting $215.39. The company had a trading volume of 9,425,136 shares, compared to its average volume of 8,886,320. The company has a market cap of $240.38 billion, a PE ratio of 28.79, a P/E/G ratio of 2.55 and a beta of 1.30. The business has a 50-day moving average of $184.94 and a 200-day moving average of $162.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $217.43.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, analysts forecast that QUALCOMM Incorporated will post 7.83 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 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.58%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the completion of the sale, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the completion of the sale, the chief technology officer now owns 261,893 shares in the company, valued at $44,068,735.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at approximately $9,623.34. The disclosure for this sale can be found here. Insiders have sold 45,185 shares of company stock valued at $8,206,875 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM 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.