Credit Capital Investments LLC Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Credit Capital Investments LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,700 shares of the wireless technology company’s stock after selling 3,300 shares during the quarter. QUALCOMM comprises approximately 4.3% of Credit Capital Investments LLC’s portfolio, making the stock its 12th biggest position. Credit Capital Investments LLC’s holdings in QUALCOMM were worth $3,334,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth $29,000. Synergy Asset Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $38,000. Finally, Legacy Investment Solutions LLC purchased a new position in QUALCOMM during the third quarter valued at $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Barclays lowered their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated 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 transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at approximately $9,374,385.96. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 1.1 %

QUALCOMM stock opened at $156.29 on Wednesday. The business has a 50-day simple moving average of $164.56 and a two-hundred day simple moving average of $164.19. The company has a market cap of $172.86 billion, a P/E ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

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

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.18%. QUALCOMM’s payout ratio is currently 36.32%.

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.