Sentry Investment Management LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sentry Investment Management LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,608 shares of the wireless technology company’s stock after selling 553 shares during the period. Sentry Investment Management LLC’s holdings in QUALCOMM were worth $708,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its position in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after buying an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $2,058,000. Burney Co. boosted its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $240,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $161.10 on Tuesday. The business has a fifty day simple moving average of $164.52 and a two-hundred day simple moving average of $165.81. The firm has a market capitalization of $178.18 billion, a P/E ratio of 17.21, a P/E/G ratio of 2.01 and a beta of 1.25. 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 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.11%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Activity at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now owns 17,153 shares in the company, valued at approximately $2,754,600.27. This represents a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander H. Rogers sold 10,373 shares of the firm’s stock in a transaction that occurred 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 directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This trade represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock valued at $7,713,734 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on QCOM. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Friday. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Sanford C. Bernstein boosted their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.