Sterling Investment Management LLC Sells 196 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sterling Investment Management LLC lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,242 shares of the wireless technology company’s stock after selling 196 shares during the period. Sterling Investment Management LLC’s holdings in QUALCOMM were worth $1,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DHJJ Financial Advisors Ltd. bought a new position in QUALCOMM during the third quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. lifted its position in QUALCOMM by 102.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Milestone Investment Advisors LLC bought a new position in QUALCOMM in the first quarter worth approximately $26,000. Pacifica Partners Inc. raised its position in QUALCOMM by 150.0% in the third quarter. Pacifica Partners Inc. now owns 250 shares of the wireless technology company’s stock worth $27,000 after acquiring an additional 150 shares during the period. Finally, Legacy Financial Group LLC bought a new position in QUALCOMM in the third quarter worth approximately $29,000. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the topic of several recent research reports. TD Cowen increased their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays increased their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Cantor Fitzgerald reissued a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Monday, March 4th. Rosenblatt Securities increased their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.71.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now directly owns 4,972 shares in the company, valued at approximately $691,108. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,360 shares of company stock worth $5,457,048. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

QUALCOMM stock opened at $169.13 on Thursday. The firm has a 50-day moving average price of $157.05 and a 200-day moving average price of $135.64. The firm has a market capitalization of $188.75 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. As a group, equities research analysts forecast that QUALCOMM Incorporated will post 7.67 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 46.38%.

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.