Harfst & Associates Inc. Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Harfst & Associates Inc. lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 40.9% during the 4th quarter, Holdings Channel reports. The firm owned 2,153 shares of the wireless technology company’s stock after selling 1,489 shares during the period. Harfst & Associates Inc.’s holdings in QUALCOMM were worth $331,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in QCOM. Old Port Advisors lifted its position in shares of QUALCOMM by 13.3% during the third quarter. Old Port Advisors now owns 2,061 shares of the wireless technology company’s stock worth $350,000 after purchasing an additional 242 shares in the last quarter. Boston Financial Mangement LLC lifted its position in shares of QUALCOMM by 0.6% during the third quarter. Boston Financial Mangement LLC now owns 13,079 shares of the wireless technology company’s stock worth $2,224,000 after purchasing an additional 79 shares in the last quarter. Fortitude Family Office LLC raised its holdings in QUALCOMM by 62.6% in the third quarter. Fortitude Family Office LLC now owns 395 shares of the wireless technology company’s stock valued at $67,000 after acquiring an additional 152 shares in the last quarter. MONECO Advisors LLC raised its holdings in QUALCOMM by 1.8% in the third quarter. MONECO Advisors LLC now owns 3,883 shares of the wireless technology company’s stock valued at $660,000 after acquiring an additional 68 shares in the last quarter. Finally, Strategic Blueprint LLC raised its holdings in QUALCOMM by 14.8% in the third quarter. Strategic Blueprint LLC now owns 5,032 shares of the wireless technology company’s stock valued at $856,000 after acquiring an additional 647 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on QCOM shares. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Piper Sandler cut their price objective 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. Finally, Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $162.10 on Thursday. The firm’s fifty day moving average price is $164.77 and its 200 day moving average price is $165.76. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm has a market cap of $179.28 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction 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 owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is owned by company insiders.

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.