Moseley Investment Management Inc. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Moseley Investment Management Inc. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,349 shares of the wireless technology company’s stock after selling 762 shares during the period. QUALCOMM comprises about 1.0% of Moseley Investment Management Inc.’s holdings, making the stock its 20th largest holding. Moseley Investment Management Inc.’s holdings in QUALCOMM were worth $2,511,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. Banque Transatlantique SA purchased a new stake in shares of QUALCOMM during the 4th quarter worth $26,000. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the 1st quarter worth $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $29,000. Finally, Sunbeam Capital Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at $29,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 1,781 shares of QUALCOMM stock in a transaction on Friday, April 4th. The stock was sold at an average price of $132.10, for a total transaction of $235,270.10. Following the completion of the transaction, the chief financial officer now owns 57,997 shares of the company’s stock, valued at $7,661,403.70. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 425,064 shares of company stock worth $8,381,948. 0.08% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Benchmark decreased their target price on QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Citigroup dropped their price target on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $189.88.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $155.41 on Tuesday. 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 stock has a 50 day simple moving average of $143.64 and a 200-day simple moving average of $155.11. The company has a market cap of $170.64 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $230.63.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a yield of 2.29%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is currently 36.25%.

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.