Credit Capital Investments LLC Has $2.87 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Credit Capital Investments LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 13.8% in the first quarter, HoldingsChannel reports. The fund owned 18,700 shares of the wireless technology company’s stock after selling 3,000 shares during the quarter. QUALCOMM makes up 4.9% of Credit Capital Investments LLC’s portfolio, making the stock its 10th largest position. Credit Capital Investments LLC’s holdings in QUALCOMM were worth $2,873,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in QCOM. GAMMA Investing LLC raised its position in QUALCOMM by 20,700.4% during the first quarter. GAMMA Investing LLC now owns 3,262,754 shares of the wireless technology company’s stock worth $501,192,000 after acquiring an additional 3,247,068 shares during the period. Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock valued at $2,041,535,000 after purchasing an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in QUALCOMM by 17.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company’s stock worth $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $204,085,000. Finally, Capital Research Global Investors increased its stake in QUALCOMM by 525.5% during the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company’s stock worth $217,141,000 after purchasing an additional 1,187,531 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. Citigroup restated a “hold” rating on shares of QUALCOMM in a research report on Thursday, July 17th. Evercore ISI cut their price objective on shares of QUALCOMM from $179.00 to $157.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the stock an “outperform” rating in a report on Monday, July 28th. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Finally, Loop Capital dropped their price target on QUALCOMM from $180.00 to $155.00 and set a “hold” rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $181.10.

Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the transaction, the insider directly owned 21,193 shares of the company’s stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were 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. Insiders sold a total of 420,766 shares of company stock worth $7,858,738 over the last 90 days. 0.08% of the stock is owned by insiders.

QUALCOMM Trading Up 1.0%

Shares of QCOM opened at $148.19 on Monday. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The company has a 50 day simple moving average of $155.11 and a two-hundred day simple moving average of $154.81. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The firm has a market cap of $159.90 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 2.18 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.33 EPS. On average, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.4%. QUALCOMM’s payout ratio is presently 34.33%.

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.