Next Capital Management LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Next Capital Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,116 shares of the wireless technology company’s stock after selling 68 shares during the quarter. Next Capital Management LLC’s holdings in QUALCOMM were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GLOBALT Investments LLC GA raised its holdings in QUALCOMM by 16.3% during the third quarter. GLOBALT Investments LLC GA now owns 1,396 shares of the wireless technology company’s stock worth $237,000 after purchasing an additional 196 shares during the last quarter. OneAscent Wealth Management LLC acquired a new position in shares of QUALCOMM during the 3rd quarter worth $352,000. Caprock Group LLC boosted its position in shares of QUALCOMM by 7.7% in the 3rd quarter. Caprock Group LLC now owns 33,407 shares of the wireless technology company’s stock worth $5,681,000 after buying an additional 2,375 shares in the last quarter. OneAscent Financial Services LLC acquired a new position in QUALCOMM during the third quarter worth about $422,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of QUALCOMM by 5.7% in the third quarter. Meeder Asset Management Inc. now owns 163,691 shares of the wireless technology company’s stock valued at $27,836,000 after purchasing an additional 8,788 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $156.29 on Wednesday. The company has a market cap of $172.86 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company’s fifty day moving average is $164.56 and its two-hundred day moving average is $164.19.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced 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 2.18%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’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 of the company’s stock, 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. In the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on QCOM shares. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Mizuho cut their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Evercore ISI decreased their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Company 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.