QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by New Vernon Investment Management LLC

New Vernon Investment Management LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 38.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,160 shares of the wireless technology company’s stock after selling 1,365 shares during the period. New Vernon Investment Management LLC’s holdings in QUALCOMM were worth $332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the 4th quarter valued at about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust bought a new stake in QUALCOMM during the fourth quarter worth approximately $33,000. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM in the fourth quarter worth approximately $38,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % 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 this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,666 shares of company stock worth $5,047,052 in the last 90 days. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on QCOM. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Citigroup lowered their price objective on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Barclays cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $201.21.

QUALCOMM Price Performance

NASDAQ QCOM opened at $147.21 on Friday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The stock’s 50-day moving average is $150.61 and its two-hundred day moving average is $159.63. The firm has a market cap of $162.81 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.32%.

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.