SFE Investment Counsel Has $13.59 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

SFE Investment Counsel trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 93,927 shares of the wireless technology company’s stock after selling 2,579 shares during the period. QUALCOMM makes up approximately 3.5% of SFE Investment Counsel’s investment portfolio, making the stock its 3rd largest position. SFE Investment Counsel’s holdings in QUALCOMM were worth $13,585,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Milestone Investment Advisors LLC bought a new position in QUALCOMM during the 1st quarter worth $26,000. Legacy Financial Group LLC bought a new position in QUALCOMM during the 3rd quarter worth $29,000. Pacific Center for Financial Services bought a new position in QUALCOMM during the 1st quarter worth $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in QUALCOMM during the 1st quarter worth $32,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Down 1.9 %

Shares of QCOM traded down $3.12 during midday trading on Thursday, reaching $161.20. 5,261,240 shares of the stock were exchanged, compared to its average volume of 8,557,064. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59. The firm has a 50 day simple moving average of $164.47 and a 200-day simple moving average of $142.20. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a market cap of $179.90 billion, a price-to-earnings ratio of 23.67, a P/E/G ratio of 2.30 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. Research analysts forecast that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the transaction, the chief financial officer now owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,360 shares of company stock valued at $7,184,678. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays increased their price target on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday. They issued an “in-line” rating and a $177.00 price target for the company. Susquehanna increased their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Cantor Fitzgerald raised their target price on QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Finally, TD Cowen raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.90.

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.