Donald L. Hagan LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Donald L. Hagan LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% in the fourth quarter, Holdings Channel reports. The fund owned 9,302 shares of the wireless technology company’s stock after selling 375 shares during the quarter. Donald L. Hagan LLC’s holdings in QUALCOMM were worth $1,429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in shares of QUALCOMM during the 3rd quarter valued at approximately $26,000. CKW Financial Group bought a new position in QUALCOMM during the fourth quarter worth $27,000. Planning Capital Management Corp lifted its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM during the third quarter worth $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the fourth quarter worth $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’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 value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on QCOM. Wells Fargo & Company raised their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. dropped their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Morgan Stanley dropped their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, Evercore ISI lifted their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Trading Up 0.1 %

NASDAQ:QCOM opened at $171.93 on Friday. 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 Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The stock’s 50-day moving average is $160.11 and its two-hundred day moving average is $166.88. The stock has a market cap of $191.01 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s payout ratio is 37.82%.

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.