Dillon & Associates Inc. Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Dillon & Associates Inc. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,867 shares of the wireless technology company’s stock after selling 100 shares during the quarter. Dillon & Associates Inc.’s holdings in QUALCOMM were worth $1,058,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the 4th quarter worth $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM in the 4th quarter worth $29,000. Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter worth $38,000. Finally, Legacy Investment Solutions LLC bought a new position in QUALCOMM in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Stock Performance

QCOM opened at $156.82 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 company has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. The company’s 50 day moving average is $164.51 and its 200 day moving average is $163.97. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.