QUALCOMM Incorporated (NASDAQ:QCOM) Position Trimmed by Dudley Capital Management LLC

Dudley Capital Management LLC lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,108 shares of the wireless technology company’s stock after selling 622 shares during the period. Dudley Capital Management LLC’s holdings in QUALCOMM were worth $1,553,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth approximately $26,000. CKW Financial Group purchased a new position in QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the 4th quarter valued at $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM during the 4th quarter valued at $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $160.08 on Tuesday. The firm has a market capitalization of $177.05 billion, a PE ratio of 17.10, a PEG ratio of 2.01 and a beta of 1.28. 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 Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The business’s 50 day moving average is $164.57 and its 200-day moving average is $163.95.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. Piper Sandler decreased their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.32.

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.