Albion Financial Group UT Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Albion Financial Group UT trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,258 shares of the wireless technology company’s stock after selling 858 shares during the quarter. Albion Financial Group UT’s holdings in QUALCOMM were worth $8,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM during the third quarter valued at about $26,000. HWG Holdings LP purchased a new stake in QUALCOMM during the 2nd quarter worth approximately $30,000. Planning Capital Management Corp increased its stake in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc purchased a new position in shares of QUALCOMM in the third quarter worth $36,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $39,000. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Trading Up 1.6 %

Shares of QCOM stock opened at $167.27 on Wednesday. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The firm has a market capitalization of $185.84 billion, a P/E ratio of 18.61, a PEG ratio of 2.75 and a beta of 1.25. The stock’s fifty day moving average is $158.86 and its two-hundred day moving average is $168.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Research analysts expect that QUALCOMM Incorporated will post 9.12 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. QUALCOMM’s payout ratio is 37.82%.

Analyst Ratings Changes

QCOM has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research report on Thursday, November 7th. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Melius Research assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Citigroup reduced their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total transaction of $313,779.06. Following the sale, the general counsel now owns 12,007 shares of the company’s stock, valued at $1,981,875.42. This represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

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.