South Street Advisors LLC Sells 300 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

South Street Advisors LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,406 shares of the wireless technology company’s stock after selling 300 shares during the period. South Street Advisors LLC’s holdings in QUALCOMM were worth $2,674,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in QCOM. Amundi lifted its position in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of QUALCOMM during the fourth quarter valued at about $527,053,000. Pacer Advisors Inc. lifted its position in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Up 0.9 %

Shares of QUALCOMM stock opened at $157.95 on Tuesday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm has a market cap of $174.69 billion, a PE ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a 50 day simple moving average of $164.64 and a two-hundred day simple moving average of $164.32.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed 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 of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

Several brokerages have commented on QCOM. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Finally, Evercore ISI lowered their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have issued 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.