Independent Investors Inc. lowered its stake in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 1.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 40,600 shares of the wireless technology company’s stock after selling 800 shares during the period. QUALCOMM makes up approximately 1.0% of Independent Investors Inc.’s investment portfolio, making the stock its 25th largest position. Independent Investors Inc.’s holdings in QUALCOMM were worth $2,310,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of QCOM. Csenge Advisory Group acquired a new stake in QUALCOMM during the 3rd quarter worth approximately $28,000. Bell Rock Capital LLC acquired a new stake in shares of QUALCOMM in the 3rd quarter valued at $101,000. Sterling Investment Advisors Ltd. raised its holdings in shares of QUALCOMM by 195.0% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 1,549 shares of the wireless technology company’s stock valued at $112,000 after purchasing an additional 1,024 shares in the last quarter. MinichMacGregor Wealth Management LLC raised its holdings in shares of QUALCOMM by 170.9% in the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 1,850 shares of the wireless technology company’s stock valued at $134,000 after purchasing an additional 1,167 shares in the last quarter. Finally, Kiley Juergens Wealth Management LLC raised its holdings in shares of QUALCOMM by 1,760.0% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,860 shares of the wireless technology company’s stock valued at $133,000 after purchasing an additional 1,760 shares in the last quarter. 89.58% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:QCOM opened at $57.50 on Monday. QUALCOMM, Inc. has a 12 month low of $48.56 and a 12 month high of $76.50. The company has a current ratio of 1.55, a quick ratio of 1.40 and a debt-to-equity ratio of 16.56. The firm has a market cap of $68.62 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.73 and a beta of 1.40.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 20th. Shareholders of record on Thursday, December 6th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Wednesday, December 5th. QUALCOMM’s payout ratio is currently 77.74%.
In other news, EVP Donald J. Rosenberg sold 6,297 shares of QUALCOMM stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $55.22, for a total value of $347,720.34. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alexander H. Rogers sold 853 shares of QUALCOMM stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $63.50, for a total transaction of $54,165.50. Following the completion of the sale, the executive vice president now directly owns 4,344 shares in the company, valued at approximately $275,844. The disclosure for this sale can be found here. Insiders have sold a total of 34,521 shares of company stock worth $2,030,355 over the last three months. 0.24% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on QCOM. Zacks Investment Research lowered shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 8th. BidaskClub lowered shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Monday, January 7th. Bank of America set a $67.00 price objective on shares of QUALCOMM and gave the company a “hold” rating in a report on Tuesday, December 11th. Morgan Stanley upgraded shares of QUALCOMM from an “underweight” rating to an “equal weight” rating in a research note on Thursday, November 15th. Finally, Deutsche Bank cut their price target on shares of QUALCOMM to $65.00 and set a “hold” rating on the stock in a research note on Thursday, November 8th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $70.44.
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QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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