GAMMA Investing LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

GAMMA Investing LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,686 shares of the wireless technology company’s stock after selling 621 shares during the period. GAMMA Investing LLC’s holdings in QUALCOMM were worth $2,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of QCOM. Lantz Financial LLC purchased a new position in shares of QUALCOMM in the second quarter valued at approximately $234,000. Founders Financial Securities LLC lifted its stake in QUALCOMM by 19.5% in the second quarter. Founders Financial Securities LLC now owns 3,763 shares of the wireless technology company’s stock worth $750,000 after acquiring an additional 615 shares during the last quarter. First National Trust Co increased its position in shares of QUALCOMM by 1.4% in the 2nd quarter. First National Trust Co now owns 11,772 shares of the wireless technology company’s stock valued at $2,345,000 after purchasing an additional 167 shares during the last quarter. Cora Capital Advisors LLC acquired a new stake in shares of QUALCOMM in the 2nd quarter valued at $233,000. Finally, FineMark National Bank & Trust lifted its position in shares of QUALCOMM by 0.9% during the 2nd quarter. FineMark National Bank & Trust now owns 85,497 shares of the wireless technology company’s stock worth $17,029,000 after purchasing an additional 779 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $153.64 on Friday. The stock has a market capitalization of $170.69 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.65 and a beta of 1.25. The business’s 50 day moving average is $160.89 and its two-hundred day moving average is $172.78. QUALCOMM Incorporated has a 12-month low of $134.94 and a 12-month high of $230.63. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. Research analysts expect that QUALCOMM Incorporated will post 9.09 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Thursday, December 5th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Analyst Ratings Changes

Several equities analysts recently commented on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Wednesday, November 20th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Wells Fargo & Company boosted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.00.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. Corporate insiders own 0.08% of the company’s stock.

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.