Shelton Capital Management Sells 1,615 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Shelton Capital Management trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 143,882 shares of the wireless technology company’s stock after selling 1,615 shares during the quarter. Shelton Capital Management’s holdings in QUALCOMM were worth $22,103,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth approximately $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM in the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust purchased a new stake in QUALCOMM during the 4th quarter valued at $33,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on QCOM. Benchmark reiterated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Price Performance

QCOM stock opened at $129.72 on Tuesday. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. The firm has a market capitalization of $143.47 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a fifty day simple moving average of $160.91 and a two-hundred day simple moving average of $162.74. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,749 shares of company stock worth $4,920,347. Company insiders own 0.08% of the company’s stock.

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.