Vestcor Inc Sells 1,082 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Vestcor Inc cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,610 shares of the wireless technology company’s stock after selling 1,082 shares during the period. Vestcor Inc’s holdings in QUALCOMM were worth $3,166,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $38,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,555 shares of company stock worth $5,094,134 over the last three months. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.6 %

Shares of QCOM stock opened at $151.94 on Friday. The company’s 50-day moving average price is $164.70 and its 200-day moving average price is $164.61. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market cap of $168.05 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results 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, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.24%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

QUALCOMM Company 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.