Verus Capital Partners LLC Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Verus Capital Partners LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,802 shares of the wireless technology company’s stock after selling 653 shares during the period. Verus Capital Partners LLC’s holdings in QUALCOMM were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Paulson Wealth Management Inc. boosted its holdings in shares of QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 61 shares during the period. TBH Global Asset Management LLC lifted its position in QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after purchasing an additional 63 shares during the last quarter. Delta Financial Advisors LLC boosted its stake in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the period. CFS Investment Advisory Services LLC grew its position in QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after purchasing an additional 65 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its stake in shares of QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at $2,754,600.27. The trade was a 31.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction 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 owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock valued at $7,713,734 over the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Up 1.8 %

Shares of NASDAQ:QCOM opened at $157.18 on Friday. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The company has a market cap of $173.84 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The firm has a 50 day simple moving average of $164.94 and a 200 day simple moving average of $165.64.

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

QUALCOMM Announces Dividend

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 issued a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. QUALCOMM’s dividend payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Melius Research assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 21st. Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

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.