QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Kanawha Capital Management LLC

Kanawha Capital Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,841 shares of the wireless technology company’s stock after selling 1,649 shares during the period. Kanawha Capital Management LLC’s holdings in QUALCOMM were worth $12,880,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of QUALCOMM in the third quarter valued at $26,000. CKW Financial Group bought a new position in shares of QUALCOMM in the fourth quarter valued at $27,000. Planning Capital Management Corp increased its holdings in shares of QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the third quarter valued at $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock valued at $7,785,781 over the last three months. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Melius assumed 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. JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Melius Research assumed 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. Sanford C. Bernstein boosted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $172.15 on Friday. QUALCOMM Incorporated has a 12-month low of $148.90 and a 12-month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $190.40 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The firm has a 50-day moving average price of $162.64 and a 200 day moving average price of $165.50.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Research analysts anticipate that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid 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 1.98%. QUALCOMM’s dividend payout ratio (DPR) 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.