Interchange Capital Partners LLC Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Interchange Capital Partners LLC lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 15.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,971 shares of the wireless technology company’s stock after selling 558 shares during the period. Interchange Capital Partners LLC’s holdings in QUALCOMM were worth $456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. TBH Global Asset Management LLC grew its position in shares of QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock worth $1,083,000 after buying an additional 63 shares during the last quarter. PDS Planning Inc increased its stake in shares of QUALCOMM by 1.6% in the fourth quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock worth $631,000 after acquiring an additional 64 shares during the period. Toth Financial Advisory Corp increased its stake in shares of QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after acquiring an additional 65 shares during the period. CFS Investment Advisory Services LLC increased its stake in shares of QUALCOMM by 1.1% in the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after acquiring an additional 65 shares during the period. Finally, Cassady Schiller Wealth Management LLC increased its stake in shares of QUALCOMM by 15.8% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock worth $73,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $156.82 on Monday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The stock has a market cap of $173.44 billion, a P/E ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. The company has a 50-day moving average price of $164.51 and a 200 day moving average price of $163.97. 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 (NASDAQ:QCOM) last released its quarterly earnings data 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 over the last three months. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on QCOM shares. Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Finally, Melius Research initiated coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM 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.