Blue Fin Capital Inc. Sells 231 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Fin Capital Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,152 shares of the wireless technology company’s stock after selling 231 shares during the period. Blue Fin Capital Inc.’s holdings in QUALCOMM were worth $745,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Legacy Financial Advisors Inc. boosted its holdings in QUALCOMM by 11.6% during the 4th quarter. Legacy Financial Advisors Inc. now owns 4,634 shares of the wireless technology company’s stock valued at $670,000 after acquiring an additional 482 shares during the period. Knuff & Co LLC increased its position in QUALCOMM by 7.1% during the 4th quarter. Knuff & Co LLC now owns 18,344 shares of the wireless technology company’s stock valued at $2,653,000 after purchasing an additional 1,210 shares during the period. Sapient Capital LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $12,981,000. W Advisors LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $238,000. Finally, Signature Resources Capital Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $260,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 0.3 %

QCOM traded down $0.46 on Friday, hitting $179.64. The company had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. The company’s fifty day moving average price is $167.69 and its 200 day moving average price is $146.59. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $183.19. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The firm has a market cap of $200.48 billion, a P/E ratio of 24.15, a PEG ratio of 2.46 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last released 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. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.64 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. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio is 43.01%.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 24,300 shares in the company, valued at approximately $3,875,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on 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 transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the sale, the chief executive officer now owns 24,300 shares in the company, valued at approximately $3,875,850. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen lifted their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. UBS Group raised their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 30th. Wolfe Research increased their price objective on QUALCOMM from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Finally, HSBC upped their target price on QUALCOMM from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $179.36.

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.