Shufro Rose & Co. LLC Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Shufro Rose & Co. LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,594 shares of the wireless technology company’s stock after selling 753 shares during the quarter. QUALCOMM accounts for about 2.0% of Shufro Rose & Co. LLC’s holdings, making the stock its 18th biggest position. Shufro Rose & Co. LLC’s holdings in QUALCOMM were worth $21,780,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in QCOM. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after buying an additional 483,390 shares during the last quarter. Morgan Stanley raised its holdings in shares of QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares during the last quarter. Northern Trust Corp raised its holdings in QUALCOMM by 3.5% during the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock worth $1,365,092,000 after purchasing an additional 415,398 shares in the last quarter. Bank of New York Mellon Corp grew its position in QUALCOMM by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 11,040,055 shares of the wireless technology company’s stock worth $1,226,109,000 after buying an additional 90,163 shares during the last quarter. Finally, Invesco Ltd. grew its position in QUALCOMM by 15.7% in the third quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock worth $1,027,269,000 after buying an additional 1,253,173 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the sale, the chief technology officer now directly owns 269,893 shares in the company, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,260 shares of company stock valued at $5,973,728. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on QCOM. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Susquehanna lifted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Benchmark initiated coverage on shares of QUALCOMM in a research report on Tuesday, April 23rd. They set a “buy” rating and a $200.00 target price for the company. Piper Sandler boosted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, TD Cowen upped their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.86.

QUALCOMM Price Performance

NASDAQ:QCOM traded up $2.36 during trading hours on Friday, reaching $165.66. 7,141,339 shares of the company were exchanged, compared to its average volume of 6,691,146. The company has a market capitalization of $184.88 billion, a P/E ratio of 24.01, a P/E/G ratio of 2.27 and a beta of 1.41. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The business has a 50 day moving average of $165.84 and a 200 day moving average of $144.70.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The company had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a dividend yield of 2.05%. QUALCOMM’s dividend payout ratio (DPR) is 49.28%.

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.