QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Annapolis Financial Services LLC

Annapolis Financial Services LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 71.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400 shares of the wireless technology company’s stock after selling 1,012 shares during the period. Annapolis Financial Services LLC’s holdings in QUALCOMM were worth $58,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in QCOM. Moneta Group Investment Advisors LLC increased its position in QUALCOMM by 117,461.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after buying an additional 24,566,978 shares during the period. Norges Bank bought a new position in shares of QUALCOMM in the fourth quarter worth $1,467,351,000. Cowa LLC bought a new position in shares of QUALCOMM in the first quarter worth $94,000. Morgan Stanley grew its stake in shares of QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of QUALCOMM by 12,998.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 2.4 %

QUALCOMM stock traded down $3.81 during mid-day trading on Friday, hitting $157.63. The company’s stock had a trading volume of 10,292,182 shares, compared to its average volume of 6,247,785. The firm’s 50 day moving average is $164.87 and its 200 day moving average is $142.89. The company has a market cap of $175.92 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts anticipate that QUALCOMM Incorporated will post 7.69 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Analyst Ratings Changes

Several research analysts have recently issued reports on QCOM shares. Susquehanna increased their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price target for the company. Rosenblatt Securities increased their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Cantor Fitzgerald raised 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. Finally, Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research note on Thursday, February 1st. One investment 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.90.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total transaction of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at approximately $3,875,850. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Neil Martin sold 371 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly 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 in the last three months. Corporate insiders own 0.08% of the company’s stock.

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.