Olympiad Research LP Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Olympiad Research LP lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 71.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,352 shares of the wireless technology company’s stock after selling 3,327 shares during the period. Olympiad Research LP’s holdings in QUALCOMM were worth $208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Paulson Wealth Management Inc. lifted its position in shares of QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after buying an additional 61 shares during the last quarter. TBH Global Asset Management LLC lifted its position in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after buying an additional 63 shares during the last quarter. Delta Financial Advisors LLC lifted its position in shares of QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after buying an additional 65 shares during the last quarter. Toth Financial Advisory Corp lifted its position in shares of QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after buying an additional 65 shares during the last quarter. Finally, CFS Investment Advisory Services LLC lifted its position in shares of QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This represents a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,708 shares of company stock worth $7,713,734 in the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $165.43 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $182.97 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The business’s 50-day moving average price is $164.46 and its 200-day moving average price is $165.84. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Analyst Ratings Changes

A number of research analysts have recently commented on QCOM shares. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Friday. Morgan Stanley dropped their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Wells Fargo & Company increased their price objective on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have 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 price target of $205.32.

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.