PDS Planning Inc Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

PDS Planning Inc cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,213 shares of the wireless technology company’s stock after selling 128 shares during the quarter. PDS Planning Inc’s holdings in QUALCOMM were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Rheos Capital Works Inc. lifted its holdings in QUALCOMM by 36.8% in the 3rd quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock worth $17,536,000 after buying an additional 42,500 shares during the period. Peoples Bank OH bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $219,000. HF Advisory Group LLC bought a new position in shares of QUALCOMM in the 3rd quarter worth approximately $629,000. Bank Hapoalim BM raised its position in shares of QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after acquiring an additional 9,192 shares in the last quarter. Finally, NewEdge Wealth LLC raised its position in shares of QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after acquiring an additional 11,285 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ QCOM traded up $1.57 on Tuesday, hitting $161.75. 2,007,965 shares of the company traded hands, compared to its average volume of 8,540,927. The company has a market capitalization of $180.51 billion, a price-to-earnings ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 1.41. 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 business’s 50 day moving average price is $165.01 and its 200-day moving average price is $143.47. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59.

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

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 2.10%. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM 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 sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Neil Martin sold 371 shares of QUALCOMM 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 sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Barclays raised their price objective on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Mizuho raised their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.86.

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.