Tributary Capital Management LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 4.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,196 shares of the wireless technology company’s stock after selling 190 shares during the quarter. Tributary Capital Management LLC’s holdings in QUALCOMM were worth $645,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of QCOM. Grimes & Company Inc. lifted its holdings in shares of QUALCOMM by 2.0% during the fourth quarter. Grimes & Company Inc. now owns 168,940 shares of the wireless technology company’s stock valued at $25,953,000 after acquiring an additional 3,274 shares during the period. Linden Thomas Advisory Services LLC increased its position in shares of QUALCOMM by 7.3% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 15,799 shares of the wireless technology company’s stock worth $2,427,000 after purchasing an additional 1,073 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in QUALCOMM by 34.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 4,258 shares of the wireless technology company’s stock valued at $654,000 after purchasing an additional 1,097 shares during the last quarter. Accel Wealth Management boosted its position in QUALCOMM by 3.8% in the fourth quarter. Accel Wealth Management now owns 3,848 shares of the wireless technology company’s stock valued at $591,000 after buying an additional 140 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in QUALCOMM by 5.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 304,158 shares of the wireless technology company’s stock worth $46,725,000 after buying an additional 17,056 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.
QUALCOMM Stock Down 1.3 %
QUALCOMM stock opened at $172.11 on Friday. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $159.49 and a 200-day moving average of $167.83. The stock has a market capitalization of $191.21 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.84 and a beta of 1.25.
QUALCOMM Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.
Insider Transactions at QUALCOMM
In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. This trade represents a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,882 shares of company stock valued at $4,314,649 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms recently commented on QCOM. Susquehanna decreased their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Morgan Stanley lowered their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research note on Thursday, November 7th. Melius initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.
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.
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