Dumont & Blake Investment Advisors LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Dumont & Blake Investment Advisors LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 4.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,529 shares of the wireless technology company’s stock after selling 341 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in QUALCOMM were worth $1,089,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Rheos Capital Works Inc. boosted its position in QUALCOMM by 36.8% during the third quarter. Rheos Capital Works Inc. now owns 157,900 shares of the wireless technology company’s stock valued at $17,536,000 after buying an additional 42,500 shares during the period. HF Advisory Group LLC purchased a new stake in QUALCOMM during the third quarter valued at about $629,000. Bank Hapoalim BM raised its stake in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares during the last quarter. DnB Asset Management AS raised its stake in shares of QUALCOMM by 31.1% during the third quarter. DnB Asset Management AS now owns 908,457 shares of the wireless technology company’s stock valued at $100,893,000 after acquiring an additional 215,522 shares during the last quarter. Finally, Sather Financial Group Inc raised its stake in shares of QUALCOMM by 5.8% during the third quarter. Sather Financial Group Inc now owns 327,547 shares of the wireless technology company’s stock valued at $36,377,000 after acquiring an additional 18,090 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on QCOM. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $150.00 price objective on shares of QUALCOMM in a research note on Monday, March 4th. Piper Sandler upped their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. KeyCorp upped their price objective on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Citigroup downgraded shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Thursday, February 1st. Finally, Morgan Stanley downgraded shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $119.00 to $132.00 in a research note on Friday, December 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

View Our Latest Stock Report on QCOM

Insider Transactions at QUALCOMM

In other news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the transaction, the insider now owns 4,972 shares in the company, valued at approximately $691,108. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold 42,360 shares of company stock worth $6,803,208 in the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 1.3 %

Shares of NASDAQ:QCOM traded up $2.21 during trading on Wednesday, reaching $173.25. 3,630,679 shares of the stock traded hands, compared to its average volume of 8,859,687. The stock has a 50-day moving average of $159.20 and a two-hundred day moving average of $137.68. QUALCOMM Incorporated has a 52-week low of $101.47 and a 52-week high of $177.59. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The stock has a market cap of $193.35 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 2.35 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.50 billion. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.85%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio is currently 46.38%.

QUALCOMM Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

Receive News & Ratings for QUALCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QUALCOMM and related companies with MarketBeat.com's FREE daily email newsletter.