HMS Capital Management LLC Sells 1,003 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

HMS Capital Management LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,124 shares of the wireless technology company’s stock after selling 1,003 shares during the quarter. HMS Capital Management LLC’s holdings in QUALCOMM were worth $1,402,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QCOM. State Street Corp increased its holdings in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after purchasing an additional 870,814 shares in the last quarter. Geode Capital Management LLC boosted its position in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of QUALCOMM by 6.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after purchasing an additional 498,284 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of QUALCOMM by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock worth $1,213,023,000 after purchasing an additional 110,828 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on QCOM shares. Sanford C. Bernstein lifted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Buying and Selling

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,268 shares of company stock worth $7,785,781 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $170.29 on Thursday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. QUALCOMM Incorporated has a 52-week low of $148.41 and a 52-week high of $230.63. The firm has a market cap of $188.34 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 2.80 and a beta of 1.25. The business’s fifty day moving average is $162.50 and its 200 day moving average is $165.47.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts predict that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

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.