Anchor Capital Advisors LLC Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Anchor Capital Advisors LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,314 shares of the wireless technology company’s stock after selling 183 shares during the quarter. Anchor Capital Advisors LLC’s holdings in QUALCOMM were worth $7,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of QCOM. Financial Advocates Investment Management raised its holdings in QUALCOMM by 3.0% in the 3rd quarter. Financial Advocates Investment Management now owns 9,996 shares of the wireless technology company’s stock worth $1,700,000 after acquiring an additional 289 shares during the last quarter. HM Payson & Co. increased its holdings in shares of QUALCOMM by 3.5% in the 3rd quarter. HM Payson & Co. now owns 6,875 shares of the wireless technology company’s stock worth $1,169,000 after purchasing an additional 230 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in shares of QUALCOMM by 14.2% in the third quarter. AustralianSuper Pty Ltd now owns 15,409 shares of the wireless technology company’s stock worth $2,620,000 after purchasing an additional 1,914 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the third quarter valued at $26,000. Finally, LCM Capital Management Inc increased its holdings in QUALCOMM by 1.4% in the 3rd quarter. LCM Capital Management Inc now owns 7,210 shares of the wireless technology company’s stock worth $1,226,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,708 shares of company stock worth $7,713,734 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on QCOM shares. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. UBS Group lifted their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Melius began coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. Finally, Morgan Stanley cut their price objective on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. One 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Up 1.8 %

Shares of QCOM opened at $157.18 on Friday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $173.84 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The business’s 50 day moving average is $164.94 and its 200 day moving average is $165.64.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.