QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Tanaka Capital Management Inc.

Tanaka Capital Management Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,194 shares of the wireless technology company’s stock after selling 1,003 shares during the period. QUALCOMM makes up approximately 3.6% of Tanaka Capital Management Inc.’s portfolio, making the stock its 11th largest holding. Tanaka Capital Management Inc.’s holdings in QUALCOMM were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter valued at $26,000. Banque Transatlantique SA purchased a new position in QUALCOMM in the 4th quarter valued at $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM during the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth $29,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM during the 4th quarter worth $33,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $139.77, for a total transaction of $465,853.41. Following the completion of the transaction, the chief financial officer now owns 53,112 shares of the company’s stock, valued at $7,423,464.24. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock valued at $1,948,379 in the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Trading Down 0.1%

Shares of QCOM stock opened at $152.50 on Friday. The firm has a 50-day moving average price of $145.94 and a 200 day moving average price of $156.84. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The company has a market capitalization of $167.45 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the company posted $2.44 EPS. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. Research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. Susquehanna decreased their target price on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating on the stock in a research report on Thursday, May 1st. Seaport Res Ptn upgraded shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $192.08.

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.