Highland Capital Management LLC Has $9.13 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Highland Capital Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,429 shares of the wireless technology company’s stock after selling 14,417 shares during the period. Highland Capital Management LLC’s holdings in QUALCOMM were worth $9,130,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in QUALCOMM during the 3rd quarter worth $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp grew its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of QUALCOMM during the 3rd quarter valued at $39,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on QCOM shares. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Melius Research assumed coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Thursday, November 7th. UBS Group raised their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Stock Up 0.1 %

QCOM stock opened at $171.71 on Thursday. The stock has a fifty day moving average of $159.76 and a 200-day moving average of $166.85. QUALCOMM Incorporated has a fifty-two week low of $139.26 and a fifty-two week high of $230.63. The company has a market capitalization of $190.77 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 2.84 and a beta of 1.25. 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 issued its 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 during 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%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 1.98%. QUALCOMM’s dividend payout ratio is currently 37.82%.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of QUALCOMM stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the sale, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares in the company, valued at approximately $5,360,975.97. This trade represents a 23.71 % 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 valued at $4,314,649. Company insiders own 0.08% of the company’s stock.

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.