William B. Walkup & Associates Inc. Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

William B. Walkup & Associates Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,426 shares of the wireless technology company’s stock after selling 80 shares during the quarter. QUALCOMM makes up approximately 0.8% of William B. Walkup & Associates Inc.’s portfolio, making the stock its 29th largest holding. William B. Walkup & Associates Inc.’s holdings in QUALCOMM were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the 4th quarter worth about $26,000. Banque Transatlantique SA purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM during the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust purchased a new stake in QUALCOMM in the 4th quarter worth approximately $33,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock worth $1,948,379 in the last three months. 0.08% of the stock is owned by insiders.

QUALCOMM Price Performance

QCOM opened at $153.70 on Tuesday. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63. The firm has a market cap of $168.76 billion, a price-to-earnings ratio of 16.42, 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. The company has a fifty day simple moving average of $145.96 and a 200 day simple moving average of $156.72.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, June 5th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s dividend payout ratio (DPR) is 36.25%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a report on Tuesday, April 29th. Benchmark reduced their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Robert W. Baird cut their price objective on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Finally, StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $192.08.

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.