Highland Capital Management LLC Has $9.13 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Highland Capital Management LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,429 shares of the wireless technology company's stock after selling 14,417 shares during the quarter. Highland Capital Management LLC's holdings in QUALCOMM were worth $9,130,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after acquiring an additional 523,244 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $2,058,000. Burney Co. raised its stake in shares of QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of QUALCOMM by 17.1% in the third quarter. Wedge Capital Management L L P NC now owns 354,389 shares of the wireless technology company's stock valued at $60,264,000 after purchasing an additional 51,879 shares during the period. Finally, Icon Wealth Advisors LLC boosted its holdings in shares of QUALCOMM by 123.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company's stock worth $5,643,000 after buying an additional 18,315 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company's stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the transaction, the general counsel now directly owns 19,739 shares in the company, valued at $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 in the last three months. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on QCOM. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an "underweight" rating in a research report on Thursday, November 7th. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, October 2nd. Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a "hold" rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Wednesday, November 20th. One investment 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.57.

QUALCOMM Trading Up 0.1 %

NASDAQ QCOM traded up $0.22 during trading hours on Thursday, hitting $171.93. The company's stock had a trading volume of 5,872,055 shares, compared to its average volume of 7,467,197. The firm has a market capitalization of $191.01 billion, a P/E ratio of 19.12, a PEG ratio of 2.84 and a beta of 1.25. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $160.11 and a 200 day moving average of $166.88. QUALCOMM Incorporated has a twelve month low of $139.26 and a twelve month high of $230.63.

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

QUALCOMM Announces Dividend

The firm also recently announced 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. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is currently 37.82%.

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.