Credit Capital Investments LLC Sells 3,300 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Credit Capital Investments LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,700 shares of the wireless technology company's stock after selling 3,300 shares during the period. QUALCOMM makes up about 4.3% of Credit Capital Investments LLC's investment portfolio, making the stock its 12th largest holding. Credit Capital Investments LLC's holdings in QUALCOMM were worth $3,334,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $29,000. Synergy Asset Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM during the 3rd quarter valued at $39,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on QCOM shares. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Rosenblatt Securities reissued a "buy" rating and set a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Finally, Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

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Insider Buying and Selling

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $1.13 during trading on Friday, reaching $156.82. 10,940,080 shares of the stock traded hands, compared to its average volume of 8,238,854. The company has a market capitalization of $173.44 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.01 and a beta of 1.28. The business has a fifty day simple moving average of $164.51 and a two-hundred day simple moving average of $163.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.17%. QUALCOMM's dividend payout ratio is currently 36.32%.

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.