Flagship Harbor Advisors LLC Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Flagship Harbor Advisors LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 34.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,584 shares of the wireless technology company’s stock after selling 3,492 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in QUALCOMM were worth $1,011,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HWG Holdings LP bought a new position in QUALCOMM in the 2nd quarter worth $30,000. Reston Wealth Management LLC bought a new position in QUALCOMM in the third quarter worth about $26,000. Planning Capital Management Corp lifted its holdings in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Hershey Financial Advisers LLC bought a new stake in QUALCOMM during the 2nd quarter valued at approximately $42,000. Finally, Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM during the 3rd quarter worth approximately $36,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Susquehanna lowered their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, Sanford C. Bernstein raised their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $171.18 on Tuesday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $190.18 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25. The firm’s 50 day moving average price is $159.49 and its 200-day moving average price is $167.27. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. Equities research analysts expect that QUALCOMM Incorporated will post 9.14 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 over the last quarter. 0.08% of the stock is currently owned by company insiders.

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.