Capital Investment Services of America Inc. Sells 2,378 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Capital Investment Services of America Inc. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 165,870 shares of the wireless technology company’s stock after selling 2,378 shares during the period. QUALCOMM accounts for about 2.4% of Capital Investment Services of America Inc.’s portfolio, making the stock its 20th biggest holding. Capital Investment Services of America Inc.’s holdings in QUALCOMM were worth $25,481,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in QCOM. Nordea Investment Management AB boosted its stake in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in QUALCOMM in the 4th quarter valued at $2,058,000. Burney Co. boosted its holdings in shares of QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of QUALCOMM by 17.1% during the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company’s stock valued at $60,264,000 after purchasing an additional 51,879 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of QUALCOMM stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock valued at $4,000,870 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Trading Up 1.6 %

Shares of QUALCOMM stock opened at $175.86 on Thursday. QUALCOMM Incorporated has a 1 year low of $142.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock has a market cap of $195.38 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. The firm has a fifty day moving average price of $161.31 and a 200 day moving average price of $165.95.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Equities research analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid 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 1.93%. QUALCOMM’s payout ratio is 37.82%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup cut their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Finally, Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average 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.