QUALCOMM Incorporated (NASDAQ:QCOM) Position Lowered by Veracity Capital LLC

Veracity Capital LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 27.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,797 shares of the wireless technology company’s stock after selling 1,418 shares during the quarter. Veracity Capital LLC’s holdings in QUALCOMM were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. State Street Corp lifted its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of QUALCOMM by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock valued at $1,999,114,000 after buying an additional 86,195 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock valued at $1,421,037,000 after buying an additional 498,284 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in QUALCOMM by 30.2% during the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after acquiring an additional 1,741,432 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Price Performance

NASDAQ QCOM opened at $174.36 on Friday. The stock has a market capitalization of $193.71 billion, a P/E ratio of 19.39, a P/E/G ratio of 2.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The business’s fifty day moving average is $159.05 and its two-hundred day moving average is $168.04. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.01 by $0.25. The business had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. On average, research analysts forecast that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on QCOM. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Thursday, November 7th. Citigroup cut their target price on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price objective on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Activity

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 1,901 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the completion of the sale, the general counsel now directly owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. This trade represents a 13.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,882 shares of company stock worth $4,314,649 over the last 90 days. 0.08% of the stock is owned by company insiders.

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.