QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 123,567 shares of the wireless technology company’s stock after selling 2,517 shares during the period. QUALCOMM accounts for about 2.5% of Baxter Bros Inc.’s investment portfolio, making the stock its 12th biggest holding. Baxter Bros Inc.’s holdings in QUALCOMM were worth $18,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of QCOM. Bay Capital Advisors LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth approximately $233,000. PKS Advisory Services LLC purchased a new stake in shares of QUALCOMM in the 4th quarter worth about $320,000. Heritage Wealth Management Inc. CA grew its stake in QUALCOMM by 4.6% in the 4th quarter. Heritage Wealth Management Inc. CA now owns 4,920 shares of the wireless technology company’s stock valued at $756,000 after acquiring an additional 217 shares during the last quarter. Zions Bancorporation N.A. grew its position in shares of QUALCOMM by 13.5% in the fourth quarter. Zions Bancorporation N.A. now owns 6,532 shares of the wireless technology company’s stock valued at $1,003,000 after purchasing an additional 777 shares during the last quarter. Finally, FineMark National Bank & Trust grew its holdings in QUALCOMM by 17.3% during the 4th quarter. FineMark National Bank & Trust now owns 93,383 shares of the wireless technology company’s stock valued at $14,345,000 after buying an additional 13,757 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.1 %

Shares of QCOM opened at $160.08 on Tuesday. The company has a 50-day moving average price of $164.57 and a two-hundred day moving average price of $163.95. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market cap of $177.05 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 in the last 90 days. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QCOM shares. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Melius Research assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Piper Sandler decreased their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average target price of $205.32.

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.