Blume Capital Management Inc. Sells 2,575 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Blume Capital Management Inc. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,849 shares of the wireless technology company’s stock after selling 2,575 shares during the period. Blume Capital Management Inc.’s holdings in QUALCOMM were worth $1,858,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc lifted its position in shares of QUALCOMM by 6.5% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after purchasing an additional 68 shares during the last quarter. Chilton Capital Management LLC increased its holdings in shares of QUALCOMM by 1.9% in the 4th quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the last quarter. Means Investment CO. Inc. raised its position in shares of QUALCOMM by 1.2% during the 4th quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares in the last quarter. Marino Stram & Associates LLC lifted its stake in QUALCOMM by 2.5% during the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock worth $430,000 after purchasing an additional 73 shares during the last quarter. Finally, First Command Advisory Services Inc. boosted its holdings in QUALCOMM by 6.1% in the fourth quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock valued at $198,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 0.2 %

QCOM traded up $0.44 during trading on Thursday, hitting $180.99. The company’s stock had a trading volume of 1,288,228 shares, compared to its average volume of 8,615,523. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $184.31. The firm’s 50 day moving average price is $168.62 and its 200-day moving average price is $148.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The stock has a market cap of $201.98 billion, a PE ratio of 24.32, a PEG ratio of 2.27 and a beta of 1.33.

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 $0.85 dividend. This is a boost 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 yield of 1.88%. QUALCOMM’s payout ratio is 45.70%.

Insider Activity

In related news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Insiders sold a total of 46,316 shares of company stock valued at $7,796,128 in the last 90 days. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. Robert W. Baird boosted their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Argus boosted their price target on shares of QUALCOMM from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday. HSBC raised their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Morgan Stanley boosted their target price on QUALCOMM from $158.00 to $172.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, Citigroup raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.48.

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.