Dumont & Blake Investment Advisors LLC Has $863,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Dumont & Blake Investment Advisors LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,619 shares of the wireless technology company’s stock after selling 92 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in QUALCOMM were worth $863,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Paulson Wealth Management Inc. lifted its stake in QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares during the last quarter. Blossom Wealth Management lifted its stake in QUALCOMM by 2.6% in the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after purchasing an additional 64 shares during the last quarter. Delta Financial Advisors LLC lifted its position in shares of QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after acquiring an additional 65 shares in the last quarter. CFS Investment Advisory Services LLC lifted its position in shares of QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after acquiring an additional 65 shares in the last quarter. Finally, Toth Financial Advisory Corp lifted its position in shares of QUALCOMM by 3.1% during the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 65 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Up 0.1 %

Shares of QUALCOMM stock opened at $171.93 on Friday. The company has a market cap of $191.01 billion, a P/E ratio of 19.12, a PEG ratio of 2.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The firm has a fifty day moving average of $160.11 and a two-hundred day moving average of $166.88.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. On average, analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

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 paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, December 5th. The shares were 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 owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 transaction of $202,120.00. Following the transaction, the chief accounting officer now owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock valued at $4,314,649 in the last ninety days. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on QCOM. Mizuho dropped their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Citigroup dropped their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Barclays dropped their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, KeyCorp cut shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

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.