Baxter Bros Inc. Sells 2,517 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Baxter Bros Inc. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,567 shares of the wireless technology company's stock after selling 2,517 shares during the period. QUALCOMM comprises 2.5% of Baxter Bros Inc.'s portfolio, making the stock its 12th largest holding. Baxter Bros Inc.'s holdings in QUALCOMM were worth $18,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Nicolet Advisory Services LLC raised its holdings in QUALCOMM by 20.0% during the third quarter. Nicolet Advisory Services LLC now owns 1,701 shares of the wireless technology company's stock valued at $287,000 after acquiring an additional 283 shares during the period. Centaurus Financial Inc. grew its position in shares of QUALCOMM by 17.8% during the third quarter. Centaurus Financial Inc. now owns 9,784 shares of the wireless technology company's stock worth $1,664,000 after purchasing an additional 1,477 shares in the last quarter. Summit Trail Advisors LLC raised its stake in QUALCOMM by 14.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 14,787 shares of the wireless technology company's stock valued at $2,514,000 after purchasing an additional 1,909 shares during the period. Bank of Hawaii lifted its holdings in QUALCOMM by 1.3% in the 3rd quarter. Bank of Hawaii now owns 18,374 shares of the wireless technology company's stock worth $3,125,000 after purchasing an additional 228 shares in the last quarter. Finally, Truvestments Capital LLC boosted its stake in QUALCOMM by 4.2% in the 3rd quarter. Truvestments Capital LLC now owns 33,991 shares of the wireless technology company's stock worth $5,780,000 after purchasing an additional 1,380 shares during the period. 74.35% of the stock is currently owned by institutional investors.

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QUALCOMM Trading Down 3.3 %

QCOM traded down $5.25 during trading hours on Friday, reaching $152.72. 8,915,861 shares of the company's stock traded hands, compared to its average volume of 8,605,322. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $164.16 and a 200 day moving average price of $163.84. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The firm has a market capitalization of $168.91 billion, a PE ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Analyst Ratings Changes

QCOM has been the topic of several recent analyst reports. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Melius started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Barclays cut their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

Insider Activity

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company's stock, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company's stock.

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.