Signature Resources Capital Management LLC Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Signature Resources Capital Management LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,624 shares of the wireless technology company’s stock after selling 73 shares during the period. Signature Resources Capital Management LLC’s holdings in QUALCOMM were worth $250,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in QUALCOMM in the 2nd quarter worth $30,000. Planning Capital Management Corp raised its position in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc purchased a new position in QUALCOMM during the third quarter valued at $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $164.56 on Tuesday. The stock has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a PEG ratio of 2.75 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a 50 day moving average price of $158.78 and a 200 day moving average price of $168.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.12 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This trade represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on QCOM shares. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Loop Capital assumed coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.57.

QUALCOMM Company 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.