PFC Capital Group Inc. Has $12.45 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

PFC Capital Group Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,056 shares of the wireless technology company’s stock after selling 540 shares during the quarter. QUALCOMM comprises approximately 6.0% of PFC Capital Group Inc.’s investment portfolio, making the stock its 5th biggest holding. PFC Capital Group Inc.’s holdings in QUALCOMM were worth $12,451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Erste Asset Management GmbH acquired a new position in shares of QUALCOMM in the third quarter valued at approximately $15,657,000. Kestra Investment Management LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at about $775,000. Aureus Asset Management LLC boosted its position in shares of QUALCOMM by 37.6% during the third quarter. Aureus Asset Management LLC now owns 1,844 shares of the wireless technology company’s stock worth $314,000 after buying an additional 504 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of QUALCOMM by 957.5% during the third quarter. Benjamin Edwards Inc. now owns 292,575 shares of the wireless technology company’s stock worth $49,769,000 after buying an additional 264,909 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its position in QUALCOMM by 1.6% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 80,669 shares of the wireless technology company’s stock valued at $13,718,000 after buying an additional 1,268 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling

In other news, 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 completion of the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock worth $4,685,077 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $153.61 on Tuesday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $147.88 and a twelve month high of $230.63. The company has a fifty day moving average of $163.94 and a 200-day moving average of $163.74. The firm has a market capitalization of $169.89 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QCOM. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Barclays lowered their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 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 given a strong buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.