Scott & Selber Inc. Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Scott & Selber Inc. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,725 shares of the wireless technology company’s stock after selling 209 shares during the period. Scott & Selber Inc.’s holdings in QUALCOMM were worth $1,033,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in shares of QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in QUALCOMM in the 4th quarter worth about $2,058,000. Burney Co. grew its holdings in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after buying an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on QCOM. Barclays decreased their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Sanford C. Bernstein upped their price objective on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley reduced their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a report on Thursday, November 7th. Finally, Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

Shares of QCOM stock opened at $153.62 on Tuesday. The firm has a market cap of $169.90 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.25. The firm has a fifty day moving average of $164.84 and a two-hundred day moving average of $165.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared 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 dividend yield of 2.21%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $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 have sold 50,045 shares of company stock worth $8,237,043 over the last ninety days. 0.08% of the stock is owned by 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.