DDD Partners LLC Sells 37,992 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

DDD Partners LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 20.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,707 shares of the wireless technology company’s stock after selling 37,992 shares during the period. QUALCOMM makes up approximately 2.8% of DDD Partners LLC’s investment portfolio, making the stock its 11th largest holding. DDD Partners LLC’s holdings in QUALCOMM were worth $21,074,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. DHJJ Financial Advisors Ltd. acquired a new stake in shares of QUALCOMM in the third quarter valued at about $26,000. Financial Gravity Asset Management Inc. increased its position in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Milestone Investment Advisors LLC acquired a new position in QUALCOMM during the first quarter worth approximately $26,000. Pacifica Partners Inc. increased its position in QUALCOMM by 150.0% during the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after buying an additional 150 shares during the last quarter. Finally, Legacy Financial Group LLC acquired a new position in QUALCOMM during the third quarter worth approximately $29,000. 74.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley downgraded QUALCOMM from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $119.00 to $132.00 in a research report on Friday, December 8th. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research note on Monday, March 4th. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Finally, Barclays increased their price target on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

QUALCOMM Stock Up 1.2 %

Shares of NASDAQ:QCOM opened at $169.13 on Thursday. The business has a fifty day simple moving average of $157.05 and a 200 day simple moving average of $135.64. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. 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 firm has a market cap of $188.75 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share 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 analyst estimates of $9.50 billion. Analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Transactions at QUALCOMM

In other news, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares in the company, valued at approximately $691,108. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,360 shares of company stock valued at $5,457,048. Corporate insiders own 0.08% of the company’s stock.

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.