Highland Capital Management LLC Sells 2,419 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Highland Capital Management LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,744 shares of the wireless technology company’s stock after selling 2,419 shares during the quarter. Highland Capital Management LLC’s holdings in QUALCOMM were worth $8,641,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Milestone Investment Advisors LLC bought a new stake in shares of QUALCOMM in the first quarter valued at approximately $26,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of QUALCOMM in the third quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. boosted its position in shares of QUALCOMM by 102.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. Fortitude Family Office LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $35,000. Finally, Pacific Center for Financial Services bought a new stake in shares of QUALCOMM in the first quarter valued at approximately $31,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which is available through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares in the company, valued at $2,747,520. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 34,360 shares of company stock worth $5,457,048 over the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM opened at $169.13 on Thursday. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $177.59. The firm has a market cap of $188.75 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The business has a fifty day moving average of $157.05 and a 200-day moving average of $135.64.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were given a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s payout ratio is 46.38%.

Wall Street Analyst Weigh In

Several research analysts recently commented on QCOM shares. Canaccord Genuity Group raised their target price on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, January 19th. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price for the company. in a research report on Thursday, February 1st. JPMorgan Chase & Co. reduced their target price on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a research report on Thursday, February 1st. Finally, KeyCorp raised their target price on QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.71.

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.