Doheny Asset Management CA Trims Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Doheny Asset Management CA lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,491 shares of the wireless technology company’s stock after selling 1,069 shares during the period. QUALCOMM makes up approximately 2.3% of Doheny Asset Management CA’s portfolio, making the stock its 14th biggest holding. Doheny Asset Management CA’s holdings in QUALCOMM were worth $2,385,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. purchased a new position in QUALCOMM during the fourth quarter worth approximately $32,000. Financial Gravity Asset Management Inc. raised its stake in QUALCOMM by 102.5% during 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. Fortitude Family Office LLC purchased a new position in QUALCOMM during the fourth quarter worth approximately $35,000. Cranbrook Wealth Management LLC raised its stake in QUALCOMM by 68.0% during 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, Legacy Financial Group LLC purchased a new position in QUALCOMM during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Up 9.2 %

Shares of NASDAQ:QCOM traded up $15.09 during trading on Thursday, hitting $179.20. 19,449,284 shares of the company’s stock were exchanged, compared to its average volume of 8,657,833. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $181.69. The firm has a 50-day moving average price of $166.69 and a two-hundred day moving average price of $145.87. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $199.99 billion, a P/E ratio of 26.01, a PEG ratio of 2.27 and a beta of 1.33.

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

QUALCOMM Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.90%. QUALCOMM’s payout ratio is currently 46.38%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on 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 owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock worth $5,973,728 in the last quarter. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on QCOM shares. Wells Fargo & Company increased their price target on shares of QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research note on Thursday. Robert W. Baird increased their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho raised their price target on shares of QUALCOMM from $160.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, UBS Group raised their price target on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $177.50.

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.