Cambridge Advisors Inc. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Advisors Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,996 shares of the wireless technology company’s stock after selling 500 shares during the quarter. Cambridge Advisors Inc.’s holdings in QUALCOMM were worth $460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Inspire Investing LLC raised its position in QUALCOMM by 89.1% during the second quarter. Inspire Investing LLC now owns 4,956 shares of the wireless technology company’s stock valued at $987,000 after purchasing an additional 2,335 shares in the last quarter. ProVise Management Group LLC grew its position in QUALCOMM by 12.4% during the second quarter. ProVise Management Group LLC now owns 2,148 shares of the wireless technology company’s stock valued at $428,000 after acquiring an additional 237 shares during the last quarter. Callan Capital LLC raised its stake in shares of QUALCOMM by 15.9% during the second quarter. Callan Capital LLC now owns 2,421 shares of the wireless technology company’s stock worth $482,000 after acquiring an additional 333 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of QUALCOMM by 31.6% during the 2nd quarter. Bridges Investment Management Inc. now owns 15,561 shares of the wireless technology company’s stock valued at $3,099,000 after purchasing an additional 3,734 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in QUALCOMM by 250.5% in the 2nd quarter. AE Wealth Management LLC now owns 55,214 shares of the wireless technology company’s stock worth $10,998,000 after purchasing an additional 39,463 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock worth $4,314,649 over the last quarter. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

QCOM opened at $164.56 on Friday. The firm has a market cap of $182.83 billion, a PE ratio of 18.30, a P/E/G ratio of 2.63 and a beta of 1.25. The stock has a 50-day moving average price of $158.85 and a 200-day moving average price of $169.03. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.09 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.07%. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Sanford C. Bernstein lifted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

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.