QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Indie Asset Partners LLC

Indie Asset Partners LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,786 shares of the wireless technology company’s stock after selling 705 shares during the quarter. Indie Asset Partners LLC’s holdings in QUALCOMM were worth $272,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in QCOM. Pinnacle Associates Ltd. grew its holdings in shares of QUALCOMM by 0.4% in the third quarter. Pinnacle Associates Ltd. now owns 47,405 shares of the wireless technology company’s stock valued at $5,579,000 after purchasing an additional 187 shares in the last quarter. Syntal Capital Partners LLC grew its holdings in QUALCOMM by 182.1% during the 3rd quarter. Syntal Capital Partners LLC now owns 30,316 shares of the wireless technology company’s stock worth $3,567,000 after acquiring an additional 19,570 shares in the last quarter. Prestige Wealth Management Group LLC grew its holdings in QUALCOMM by 5.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 3,951 shares of the wireless technology company’s stock worth $465,000 after acquiring an additional 187 shares in the last quarter. Tradewinds Capital Management LLC grew its holdings in QUALCOMM by 9.2% during the 3rd quarter. Tradewinds Capital Management LLC now owns 1,419 shares of the wireless technology company’s stock worth $167,000 after acquiring an additional 120 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in QUALCOMM during the 3rd quarter worth approximately $235,000. Hedge funds and other institutional investors own 74.76% of the company’s stock.

In related news, President Cristiano R. Amon sold 73,220 shares of the stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $148.72, for a total value of $10,889,278.40. Following the sale, the president now directly owns 50,753 shares of the company’s stock, valued at approximately $7,547,986.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Alexander H. Rogers sold 35,102 shares of the stock in a transaction dated Tuesday, December 8th. The shares were sold at an average price of $157.17, for a total transaction of $5,516,981.34. Following the completion of the sale, the executive vice president now directly owns 64,365 shares in the company, valued at $10,116,247.05. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

QCOM has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, February 4th. Piper Sandler upped their target price on shares of QUALCOMM from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, December 4th. Mizuho upped their target price on shares of QUALCOMM from $163.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Canaccord Genuity upped their target price on shares of QUALCOMM from $175.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, January 5th. Finally, Standpoint Research downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Friday, December 11th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. QUALCOMM currently has an average rating of “Buy” and an average target price of $157.81.

Shares of NASDAQ:QCOM traded down $3.63 on Tuesday, reaching $135.83. 756,249 shares of the company were exchanged, compared to its average volume of 10,313,883. The company has a current ratio of 2.14, a quick ratio of 1.84 and a debt-to-equity ratio of 2.51. QUALCOMM Incorporated has a 1-year low of $58.00 and a 1-year high of $167.94. The firm has a market cap of $154.30 billion, a price-to-earnings ratio of 30.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.34. The company has a 50-day moving average of $153.95 and a 200-day moving average of $135.95.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 3rd. The wireless technology company reported $2.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.10 by $0.07. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.26 billion. QUALCOMM had a net margin of 22.09% and a return on equity of 90.74%. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 EPS. As a group, analysts forecast that QUALCOMM Incorporated will post 6.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 25th. Investors of record on Thursday, March 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Wednesday, March 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 1.91%. QUALCOMM’s payout ratio is 77.84%.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies and products are used in mobile devices and other wireless products, including network equipment, broadband gateway equipment, consumer electronic devices, and other connected devices worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).

Further Reading: How Buying a Call Option Works

Want to see what other hedge funds are holding QCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QUALCOMM Incorporated (NASDAQ:QCOM).

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.