QUALCOMM Incorporated (NASDAQ:QCOM) Position Reduced by Hollencrest Capital Management

Hollencrest Capital Management decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 4,507 shares of the wireless technology company’s stock after selling 131 shares during the quarter. Hollencrest Capital Management’s holdings in QUALCOMM were worth $692,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Paulson Wealth Management Inc. lifted its stake in QUALCOMM by 2.2% in 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 last quarter. TBH Global Asset Management LLC raised its stake 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 worth $1,083,000 after purchasing an additional 63 shares in the last quarter. CFS Investment Advisory Services LLC raised its stake 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 in the last quarter. Toth Financial Advisory Corp increased its holdings in QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after buying an additional 65 shares during the period. Finally, Pettyjohn Wood & White Inc. increased its holdings in QUALCOMM by 2.9% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 2,415 shares of the wireless technology company’s stock valued at $371,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the business’s 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 transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,955 shares of company stock worth $4,847,350. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Down 1.2 %

QCOM stock opened at $153.10 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market capitalization of $169.33 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The business has a 50 day simple moving average of $164.76 and a two-hundred day simple moving average of $164.78.

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

QUALCOMM Dividend Announcement

The business 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 yield of 2.22%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several research reports. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Melius started 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. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.