Court Place Advisors LLC Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Court Place Advisors LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,958 shares of the wireless technology company’s stock after selling 326 shares during the quarter. Court Place Advisors LLC’s holdings in QUALCOMM were worth $1,991,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in QUALCOMM in the second quarter valued at approximately $896,000. Ascent Group LLC increased its holdings in shares of QUALCOMM by 13.4% in the 2nd quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 335 shares during the period. Algert Global LLC purchased a new stake in QUALCOMM in the 2nd quarter valued at $366,000. Magnolia Capital Advisors LLC acquired a new stake in QUALCOMM during the 2nd quarter worth $1,340,000. Finally, NewEdge Advisors LLC grew its position in QUALCOMM by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 79,506 shares of the wireless technology company’s stock worth $15,836,000 after purchasing an additional 19,744 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of research reports. UBS Group upped their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Morgan Stanley decreased their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Finally, Mizuho dropped their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Down 0.5 %

QCOM opened at $171.18 on Tuesday. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The firm has a 50 day moving average price of $159.49 and a 200 day moving average price of $167.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market cap of $190.18 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

QUALCOMM Company 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.