Beacon Capital Management LLC Sells 162 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Beacon Capital Management LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 18.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 719 shares of the wireless technology company’s stock after selling 162 shares during the period. Beacon Capital Management LLC’s holdings in QUALCOMM were worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. 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. boosted its position in shares of QUALCOMM by 21.9% in 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 during the period. FNY Investment Advisers LLC bought a new position in shares of QUALCOMM in the fourth quarter valued at approximately $2,058,000. Burney Co. grew its stake in QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $240,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Up 0.0 %

NASDAQ:QCOM opened at $172.23 on Friday. The company has a fifty day moving average of $163.13 and a 200 day moving average of $165.50. QUALCOMM Incorporated has a 52 week low of $148.90 and a 52 week high of $230.63. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $190.49 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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 9.19 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.97%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Loop Capital began coverage on QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Morgan Stanley decreased their target price on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 7th. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Mizuho cut their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,268 shares of company stock valued at $7,785,781. Company insiders own 0.08% of the company’s stock.

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.