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

Royal Fund Management LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 26.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AJOVista LLC acquired a new position in QUALCOMM during the 4th quarter valued at $145,000. Todd Asset Management LLC increased its holdings in shares of QUALCOMM by 5.8% during the fourth quarter. Todd Asset Management LLC now owns 465,173 shares of the wireless technology company’s stock worth $67,278,000 after buying an additional 25,465 shares in the last quarter. Provence Wealth Management Group increased its holdings in QUALCOMM by 62.8% during the 4th quarter. Provence Wealth Management Group now owns 3,600 shares of the wireless technology company’s stock valued at $521,000 after purchasing an additional 1,389 shares in the last quarter. Legacy Financial Advisors Inc. raised its holdings in shares of QUALCOMM by 11.6% in the fourth quarter. Legacy Financial Advisors Inc. now owns 4,634 shares of the wireless technology company’s stock valued at $670,000 after buying an additional 482 shares during the last quarter. Finally, Knuff & Co LLC grew its holdings in QUALCOMM by 7.1% during the 4th quarter. Knuff & Co LLC now owns 18,344 shares of the wireless technology company’s stock worth $2,653,000 after acquiring an additional 1,210 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.3 %

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 has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. The business’s 50-day moving average is $167.69 and its 200-day moving average is $146.59. The stock has a market capitalization of $200.48 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.46 and a beta of 1.33. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $183.19.

QUALCOMM (NASDAQ:QCOM) last released 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 during the quarter, compared to analysts’ expectations of $9.50 billion. Sell-side analysts anticipate that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

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

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total transaction of $1,456,000.00. Following the completion of the sale, the chief technology officer now owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the completion of the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,260 shares of company stock worth $7,429,728. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Bank of America raised their target price on shares of QUALCOMM from $173.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday. Barclays upped their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of QUALCOMM from $170.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research report on Thursday. Finally, Benchmark reissued a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

About QUALCOMM

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.