Howe & Rusling Inc. Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Howe & Rusling Inc. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,675 shares of the wireless technology company’s stock after selling 23,053 shares during the quarter. Howe & Rusling Inc.’s holdings in QUALCOMM were worth $5,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QCOM. Financial Gravity Asset Management Inc. grew its holdings in shares of QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in QUALCOMM in the third quarter valued at $29,000. DiNuzzo Private Wealth Inc. purchased a new stake in QUALCOMM in the fourth quarter valued at $32,000. Fortitude Family Office LLC purchased a new stake in QUALCOMM in the fourth quarter valued at $35,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the transaction, the chief technology officer now owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 over the last ninety days. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on QCOM shares. Piper Sandler upped their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Evercore ISI began coverage on shares of QUALCOMM in a research report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. Benchmark began coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 price target for the company. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research report on Thursday, February 1st. Finally, HSBC upped their price target on shares of QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.68.

QUALCOMM Stock Up 0.4 %

QUALCOMM stock traded up $0.67 during mid-day trading on Wednesday, reaching $166.52. 7,320,422 shares of the company’s stock were exchanged, compared to its average volume of 8,459,929. The company has a market cap of $185.84 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.32 and a beta of 1.41. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. 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 fifty day moving average of $166.45 and a 200-day moving average of $145.75.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) 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 analysts’ expectations of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. Sell-side analysts expect that QUALCOMM Incorporated will post 7.64 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 given a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is 46.38%.

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.