QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 18.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,500 shares of the wireless technology company’s stock after selling 350 shares during the period. Lafayette Investments Inc.’s holdings in QUALCOMM were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Fidelis Capital Partners LLC grew its stake in QUALCOMM by 2.0% during the 4th quarter. Fidelis Capital Partners LLC now owns 11,062 shares of the wireless technology company’s stock worth $1,600,000 after buying an additional 216 shares during the last quarter. Western Wealth Management LLC grew its stake in QUALCOMM by 1.0% during the 4th quarter. Western Wealth Management LLC now owns 34,391 shares of the wireless technology company’s stock worth $4,974,000 after buying an additional 350 shares during the last quarter. Xponance Inc. grew its stake in QUALCOMM by 1.6% during the 4th quarter. Xponance Inc. now owns 272,725 shares of the wireless technology company’s stock worth $39,444,000 after buying an additional 4,294 shares during the last quarter. AIA Group Ltd grew its stake in QUALCOMM by 290.9% during the 4th quarter. AIA Group Ltd now owns 21,525 shares of the wireless technology company’s stock worth $3,113,000 after buying an additional 16,018 shares during the last quarter. Finally, Integral Investment Advisors Inc. grew its stake in QUALCOMM by 3.0% during the 4th quarter. Integral Investment Advisors Inc. now owns 5,036 shares of the wireless technology company’s stock worth $728,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $1.64 during trading on Friday, reaching $159.80. The company had a trading volume of 1,965,732 shares, compared to its average volume of 8,525,271. The stock has a 50-day moving average price of $164.74 and a two-hundred day moving average price of $142.33. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $178.34 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.13%. QUALCOMM’s dividend payout ratio is presently 46.38%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold 36,260 shares of company stock valued at $5,973,728 over the last quarter. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday. They issued an “in-line” rating and a $177.00 target price on the stock. Cantor Fitzgerald lifted their target price on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. lowered their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Citigroup downgraded QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. Finally, Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.90.

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.