Altfest L J & Co. Inc. Sells 269 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Altfest L J & Co. Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,084 shares of the wireless technology company’s stock after selling 269 shares during the period. Altfest L J & Co. Inc.’s holdings in QUALCOMM were worth $735,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of 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 acquiring an additional 24,566,978 shares during the period. Norges Bank purchased a new position in QUALCOMM during the fourth quarter valued at $1,467,351,000. Cowa LLC bought a new stake in QUALCOMM in the 1st quarter valued at $94,000. Morgan Stanley boosted its holdings in shares of QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after purchasing an additional 2,659,323 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the sale, the chief executive officer now owns 16,200 shares in the company, valued at $2,747,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,360 shares of company stock worth $5,457,048. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM traded down $0.37 during midday trading on Thursday, hitting $168.76. The stock had a trading volume of 1,615,843 shares, compared to its average volume of 8,945,640. The stock has a 50 day simple moving average of $157.05 and a 200-day simple moving average of $135.64. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $188.34 billion, a PE ratio of 24.43, a P/E/G ratio of 2.28 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 for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were paid a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a yield of 1.90%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Analysts Set New Price Targets

Several equities analysts have weighed in on QCOM shares. Rosenblatt Securities raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. KeyCorp raised their price objective on QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. TD Cowen upped their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Mizuho raised their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.71.

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.