Creekmur Asset Management LLC Has $73,000 Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Creekmur Asset Management LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 431 shares of the wireless technology company’s stock after selling 84 shares during the quarter. Creekmur Asset Management LLC’s holdings in QUALCOMM were worth $73,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of QUALCOMM during the 4th quarter worth $2,507,978,000. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM during the first quarter valued at about $1,171,516,000. International Assets Investment Management LLC increased its position in shares of QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after buying an additional 1,519,781 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on QCOM shares. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. KeyCorp boosted their price objective on QUALCOMM from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Bank of America boosted their price objective on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Mizuho boosted their price objective on QUALCOMM from $180.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Finally, Morgan Stanley boosted their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.21.

Insider Buying and Selling at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Down 7.1 %

Shares of NASDAQ QCOM traded down $12.85 during trading hours on Thursday, hitting $168.10. 5,905,155 shares of the company traded hands, compared to its average volume of 9,253,282. The company’s 50 day moving average price is $202.69 and its 200 day moving average price is $178.02. The stock has a market capitalization of $187.60 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.27. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.84 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 5th. QUALCOMM’s dividend payout ratio is currently 45.70%.

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.