Royal Fund Management LLC Sells 15,027 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Royal Fund Management LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 26.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,967 shares of the wireless technology company’s stock after selling 15,027 shares during the quarter. Royal Fund Management LLC’s holdings in QUALCOMM were worth $6,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the business. Financial Gravity Asset Management Inc. boosted its stake in shares of QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after buying an additional 122 shares during the last quarter. Legacy Financial Group LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at about $29,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $32,000. Fortitude Family Office LLC bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $35,000. Finally, Cranbrook Wealth Management LLC boosted its holdings in shares of QUALCOMM by 68.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock worth $7,429,728 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Mizuho upped their target price on shares of QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp lifted their target price on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. Morgan Stanley raised their price objective on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on QUALCOMM from $170.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

QUALCOMM Trading Down 0.3 %

Shares of NASDAQ QCOM traded down $0.46 during trading hours on Friday, hitting $179.64. 10,043,912 shares of the company traded hands, compared to its average volume of 8,171,053. The company’s 50 day moving average price is $167.69 and its 200 day moving average price is $146.59. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $183.19. The stock has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.33. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, equities research analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 1.89%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is presently 43.01%.

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.