Bailard Inc. Sells 528 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bailard Inc. cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 131,616 shares of the wireless technology company’s stock after selling 528 shares during the period. Bailard Inc.’s holdings in QUALCOMM were worth $19,036,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. increased its stake in QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the period. Legacy Financial Group LLC purchased a new stake in QUALCOMM in the third quarter worth $29,000. Fortitude Family Office LLC purchased a new stake in QUALCOMM in the fourth quarter worth $35,000. Cranbrook Wealth Management LLC increased its stake in QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. increased its stake in QUALCOMM by 184.3% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 163,963 shares during the period. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 1.4 %

QCOM stock traded up $2.28 during trading on Wednesday, reaching $163.63. 6,088,578 shares of the company traded hands, compared to its average volume of 8,570,011. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The business has a 50 day simple moving average of $165.43 and a 200 day simple moving average of $143.97. The company has a market capitalization of $182.61 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 2.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Thursday, May 30th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 46.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler increased their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Citigroup lowered QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research note on Thursday, February 1st. Benchmark began coverage on QUALCOMM in a research note on Tuesday. They set a “buy” rating and a $200.00 price target on the stock. Evercore ISI began coverage on QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price target on the stock. Finally, KeyCorp raised their price target on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.86.

Insiders Place Their Bets

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated 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 sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

About QUALCOMM

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.