Hudson Edge Investment Partners Inc. Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Hudson Edge Investment Partners Inc. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,614 shares of the wireless technology company’s stock after selling 536 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in QUALCOMM were worth $1,170,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Paulson Wealth Management Inc. grew its position in shares of QUALCOMM by 2.2% during the third 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 in the last quarter. TBH Global Asset Management LLC grew its position in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after purchasing an additional 63 shares in the last quarter. Delta Financial Advisors LLC grew its position in QUALCOMM by 2.1% in the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after acquiring an additional 65 shares in the last quarter. CFS Investment Advisory Services LLC grew its position in QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after acquiring an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its position in QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $165.43 on Friday. The company has a 50 day moving average price of $164.46 and a 200-day moving average price of $165.72. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a market capitalization of $182.97 billion, a PE ratio of 17.67, a P/E/G ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock valued at $7,713,734 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on QCOM. JPMorgan Chase & Co. dropped their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.