Leisure Capital Management Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Leisure Capital Management reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,691 shares of the wireless technology company’s stock after selling 4,012 shares during the quarter. QUALCOMM comprises about 1.1% of Leisure Capital Management’s investment portfolio, making the stock its 23rd biggest position. Leisure Capital Management’s holdings in QUALCOMM were worth $2,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC lifted its holdings in shares of QUALCOMM by 96.2% during the 4th quarter. Princeton Global Asset Management LLC now owns 612 shares of the wireless technology company’s stock valued at $94,000 after acquiring an additional 300 shares in the last quarter. JB Capital LLC raised its holdings in shares of QUALCOMM by 7.4% during the 4th quarter. JB Capital LLC now owns 55,690 shares of the wireless technology company’s stock valued at $8,555,000 after buying an additional 3,843 shares during the period. Oregon Pacific Wealth Management LLC acquired a new position in QUALCOMM during the 4th quarter worth approximately $338,000. Chicago Capital LLC grew its position in QUALCOMM by 26.0% in the fourth quarter. Chicago Capital LLC now owns 39,068 shares of the wireless technology company’s stock valued at $6,002,000 after acquiring an additional 8,054 shares in the last quarter. Finally, Means Investment CO. Inc. raised its stake in shares of QUALCOMM by 5.4% during the fourth quarter. Means Investment CO. Inc. now owns 7,141 shares of the wireless technology company’s stock valued at $1,097,000 after purchasing an additional 364 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Price Performance

NASDAQ QCOM opened at $172.93 on Monday. The company has a 50-day moving average price of $160.76 and a two-hundred day moving average price of $166.19. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The stock has a market cap of $192.13 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts forecast that QUALCOMM Incorporated will post 9.16 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling

In other news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now owns 94 shares in the company, valued at approximately $14,570. This trade represents a 93.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,981 shares of company stock valued at $4,000,870 over the last 90 days. 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.