QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Princeton Capital Management LLC

Princeton Capital Management LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.6% during the fourth quarter, Holdings Channel reports. The firm owned 39,630 shares of the wireless technology company’s stock after selling 2,330 shares during the period. QUALCOMM makes up approximately 1.9% of Princeton Capital Management LLC’s portfolio, making the stock its 12th largest position. Princeton Capital Management LLC’s holdings in QUALCOMM were worth $6,088,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth $29,000. CoreFirst Bank & Trust acquired a new position in QUALCOMM during the fourth quarter valued at $33,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the fourth quarter valued at $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $160.08 on Tuesday. The business’s 50 day moving average price is $164.57 and its 200 day moving average price is $163.95. The company has a market cap of $177.05 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

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

QUALCOMM Announces Dividend

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 dividend on an annualized basis and a dividend yield of 2.12%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on QCOM shares. Evercore ISI reduced their price objective on 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 Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Mizuho lowered their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Activity

In related news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was 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 of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by company 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.