Griffin Asset Management Inc. Has $10.77 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Griffin Asset Management Inc. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,133 shares of the wireless technology company’s stock after selling 156 shares during the quarter. QUALCOMM accounts for approximately 1.3% of Griffin Asset Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Griffin Asset Management Inc.’s holdings in QUALCOMM were worth $10,774,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of QUALCOMM during the 2nd quarter worth approximately $896,000. Ascent Group LLC lifted its stake in shares of QUALCOMM by 13.4% in the 2nd quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after acquiring an additional 335 shares during the last quarter. Algert Global LLC bought a new stake in shares of QUALCOMM during the second quarter worth about $366,000. Magnolia Capital Advisors LLC bought a new position in shares of QUALCOMM during the second quarter valued at $1,340,000. Finally, NewEdge Advisors LLC lifted its holdings in QUALCOMM by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 79,506 shares of the wireless technology company’s stock worth $15,836,000 after buying an additional 19,744 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Citigroup decreased their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Sanford C. Bernstein increased their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company raised their target price on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Finally, Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

Insider Buying and Selling at QUALCOMM

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at approximately $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,882 shares of company stock worth $4,314,649. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.5 %

QCOM opened at $171.18 on Tuesday. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63. The stock has a market cap of $190.18 billion, a PE ratio of 19.04, a PEG ratio of 2.84 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The business has a 50 day moving average of $159.49 and a 200-day moving average of $167.27.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Equities research analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

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.