QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Bellevue Asset Management LLC

Bellevue Asset Management LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 20.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,065 shares of the wireless technology company’s stock after selling 275 shares during the period. Bellevue Asset Management LLC’s holdings in QUALCOMM were worth $164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC increased its position in QUALCOMM by 6.9% in the fourth quarter. Carmel Capital Partners LLC now owns 16,378 shares of the wireless technology company’s stock worth $2,516,000 after buying an additional 1,064 shares during the period. Washington Trust Advisors Inc. increased its position in QUALCOMM by 36.8% in the fourth quarter. Washington Trust Advisors Inc. now owns 2,461 shares of the wireless technology company’s stock worth $378,000 after buying an additional 662 shares during the period. Townsend Asset Management Corp NC ADV increased its holdings in shares of QUALCOMM by 6.8% during the fourth quarter. Townsend Asset Management Corp NC ADV now owns 72,346 shares of the wireless technology company’s stock valued at $11,114,000 after purchasing an additional 4,604 shares during the period. Raymond James Financial Inc. acquired a new position in shares of QUALCOMM during the fourth quarter valued at $527,053,000. Finally, First Business Financial Services Inc. increased its holdings in shares of QUALCOMM by 3.9% during the fourth quarter. First Business Financial Services Inc. now owns 10,172 shares of the wireless technology company’s stock valued at $1,563,000 after purchasing an additional 381 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on QCOM shares. Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is owned by company insiders.

QUALCOMM Trading Up 2.6 %

NASDAQ QCOM opened at $158.49 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market cap of $175.29 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The stock’s 50-day moving average is $164.73 and its 200-day moving average is $165.29.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 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. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is presently 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.