Bahl & Gaynor Inc. Sells 39,013 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bahl & Gaynor Inc. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 855,016 shares of the wireless technology company’s stock after selling 39,013 shares during the quarter. Bahl & Gaynor Inc. owned about 0.08% of QUALCOMM worth $131,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of QCOM. Paulson Wealth Management Inc. lifted 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 worth $475,000 after acquiring an additional 61 shares in the last quarter. TBH Global Asset Management LLC lifted its holdings in QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after purchasing an additional 63 shares in the last quarter. Delta Financial Advisors LLC boosted its stake in QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after purchasing an additional 65 shares during the period. Toth Financial Advisory Corp grew its holdings in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after buying an additional 65 shares in the last quarter. Finally, CFS Investment Advisory Services LLC increased its position in shares of QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after buying an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

QCOM stock opened at $153.62 on Tuesday. The stock has a market capitalization of $169.90 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 2.01 and a beta of 1.25. The firm’s 50-day moving average price is $164.84 and its two-hundred day moving average price is $165.47. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced 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%. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Morgan Stanley cut their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,045 shares of company stock valued at $8,237,043. 0.08% of the stock is currently owned by company insiders.

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.