Bourne Lent Asset Management Inc. Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Bourne Lent Asset Management Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,731 shares of the wireless technology company’s stock after selling 239 shares during the quarter. QUALCOMM comprises about 2.0% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 13th largest position. Bourne Lent Asset Management Inc.’s holdings in QUALCOMM were worth $5,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Paulson Wealth Management Inc. grew its stake in shares of QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares during the last quarter. Blossom Wealth Management lifted its holdings in shares of QUALCOMM by 2.6% during the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after purchasing an additional 64 shares during the period. Delta Financial Advisors LLC increased its stake in QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after buying an additional 65 shares during the period. Muirfield Wealth Advisors LLC raised its position in QUALCOMM by 3.1% during the 3rd quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $370,000 after buying an additional 66 shares during the last quarter. Finally, Invst LLC lifted its stake in shares of QUALCOMM by 2.9% in the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Evercore ISI increased their target price on QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Finally, Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

QUALCOMM Trading Up 1.6 %

QCOM stock opened at $167.27 on Wednesday. The company has a market cap of $185.84 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $158.78 and a 200-day simple moving average of $168.29.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.03%. QUALCOMM’s payout ratio is currently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 in the last 90 days. 0.08% of the stock is owned by company insiders.

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.