Callan Capital LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Callan Capital LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,851 shares of the wireless technology company’s stock after selling 372 shares during the quarter. Callan Capital LLC’s holdings in QUALCOMM were worth $438,000 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. Mount Yale Investment Advisors LLC raised its position in QUALCOMM by 4.0% in the third quarter. Mount Yale Investment Advisors LLC now owns 7,602 shares of the wireless technology company’s stock valued at $1,293,000 after purchasing an additional 293 shares during the period. BayBridge Capital Group LLC raised its position in QUALCOMM by 2.3% in the third quarter. BayBridge Capital Group LLC now owns 7,928 shares of the wireless technology company’s stock valued at $1,348,000 after purchasing an additional 175 shares during the period. Trueblood Wealth Management LLC grew its stake in shares of QUALCOMM by 3.0% in the third quarter. Trueblood Wealth Management LLC now owns 10,676 shares of the wireless technology company’s stock worth $1,815,000 after acquiring an additional 315 shares in the last quarter. Legacy Wealth Asset Management LLC grew its stake in shares of QUALCOMM by 2.0% in the third quarter. Legacy Wealth Asset Management LLC now owns 4,620 shares of the wireless technology company’s stock worth $786,000 after acquiring an additional 91 shares in the last quarter. Finally, Country Club Bank grew its stake in shares of QUALCOMM by 1.9% in the third quarter. Country Club Bank now owns 6,760 shares of the wireless technology company’s stock worth $1,150,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Sanford C. Bernstein boosted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. UBS Group boosted their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,708 shares of company stock valued at $7,713,734. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $165.43 on Friday. The company has a 50-day simple moving average of $164.46 and a 200-day simple moving average of $165.77. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a market capitalization of $182.97 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

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

About QUALCOMM

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.