Bryn Mawr Capital Management LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Bryn Mawr Capital Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 39.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,112 shares of the wireless technology company’s stock after selling 1,395 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in QUALCOMM were worth $305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Asset Management Inc. increased its stake in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. Legacy Financial Group LLC purchased a new position in shares of QUALCOMM during the third quarter valued at $29,000. Fortitude Family Office LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at $35,000. Cranbrook Wealth Management LLC increased its stake in shares of QUALCOMM by 68.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. increased its stake in shares of QUALCOMM by 184.3% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 163,963 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented 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 research note on Thursday, February 1st. Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Susquehanna raised their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Finally, Canaccord Genuity Group raised their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the transaction, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares of the company’s stock, valued at $3,875,850. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Trading Up 1.4 %

Shares of NASDAQ:QCOM opened at $165.66 on Friday. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The stock has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.27 and a beta of 1.41. 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 business has a 50-day moving average price of $165.84 and a 200-day moving average price of $144.70.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Equities analysts predict that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

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.