Fisher Asset Management LLC Sells 40,164 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fisher Asset Management LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,651,493 shares of the wireless technology company’s stock after selling 40,164 shares during the quarter. Fisher Asset Management LLC’s holdings in QUALCOMM were worth $253,702,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. Planning Capital Management Corp increased its stake in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after acquiring an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $38,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on QCOM. Benchmark reaffirmed a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Loop Capital started coverage on QUALCOMM in a research note on Monday, November 11th. They issued a “hold” rating and a $180.00 price target for the company. Mizuho decreased their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Up 1.8 %

NASDAQ QCOM opened at $157.18 on Friday. The company has a market cap of $173.84 billion, a PE ratio of 16.79, a PEG 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. The stock has a 50 day moving average of $164.94 and a 200-day moving average of $165.64.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of 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 quarter, insiders have sold 46,708 shares of company stock worth $7,713,734. 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.