Los Angeles Capital Management LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Los Angeles Capital Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 56.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 514,567 shares of the wireless technology company’s stock after selling 670,064 shares during the period. Los Angeles Capital Management LLC’s holdings in QUALCOMM were worth $79,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter valued at about $26,000. CKW Financial Group acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $29,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.6 %

Shares of NASDAQ QCOM opened at $161.10 on Tuesday. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The firm has a market capitalization of $178.18 billion, a PE ratio of 17.21, a PEG ratio of 2.01 and a beta of 1.25. 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 business has a 50-day moving average price of $164.52 and a two-hundred day moving average price of $165.81.

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 analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on QCOM shares. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Friday. Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Susquehanna reduced their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. Finally, Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 in the last three months. 0.08% of the stock is owned by 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.