Baxter Bros Inc. Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Baxter Bros Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,567 shares of the wireless technology company’s stock after selling 2,517 shares during the quarter. QUALCOMM makes up 2.5% of Baxter Bros Inc.’s investment portfolio, making the stock its 12th largest holding. Baxter Bros Inc.’s holdings in QUALCOMM were worth $18,982,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nicolet Advisory Services LLC grew its holdings in QUALCOMM by 20.0% during the third quarter. Nicolet Advisory Services LLC now owns 1,701 shares of the wireless technology company’s stock valued at $287,000 after purchasing an additional 283 shares during the period. Centaurus Financial Inc. raised its stake in QUALCOMM by 17.8% in the 3rd quarter. Centaurus Financial Inc. now owns 9,784 shares of the wireless technology company’s stock valued at $1,664,000 after acquiring an additional 1,477 shares during the period. Summit Trail Advisors LLC increased its stake in shares of QUALCOMM by 14.8% in the third quarter. Summit Trail Advisors LLC now owns 14,787 shares of the wireless technology company’s stock worth $2,514,000 after purchasing an additional 1,909 shares in the last quarter. Bank of Hawaii boosted its holdings in QUALCOMM by 1.3% in the 3rd quarter. Bank of Hawaii now owns 18,374 shares of the wireless technology company’s stock worth $3,125,000 after buying an additional 228 shares during the period. Finally, Truvestments Capital LLC raised its stake in shares of QUALCOMM by 4.2% during the 3rd quarter. Truvestments Capital LLC now owns 33,991 shares of the wireless technology company’s stock valued at $5,780,000 after purchasing an additional 1,380 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 in the last quarter. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 2.1 %

QCOM opened at $160.08 on Tuesday. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a 50-day moving average price of $164.57 and a 200 day moving average price of $163.95. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $177.05 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Ratings Changes

A number of analysts have recently issued reports on QCOM shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Melius Research began coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price 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, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.