QUALCOMM Incorporated (NASDAQ:QCOM) is Selway Asset Management’s 7th Largest Position

Selway Asset Management cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,599 shares of the wireless technology company’s stock after selling 110 shares during the period. QUALCOMM comprises about 2.8% of Selway Asset Management’s holdings, making the stock its 7th largest position. Selway Asset Management’s holdings in QUALCOMM were worth $7,159,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $29,000. CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.7 %

QCOM stock opened at $154.08 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $163.33 and a 200-day simple moving average of $163.57. The company has a market capitalization of $170.41 billion, a P/E ratio of 16.46, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a twelve month low of $147.88 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced 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%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Analyst Ratings Changes

Several brokerages have weighed in on QCOM. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the sale, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by corporate 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.