Kornitzer Capital Management Inc. KS Sells 3,266 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kornitzer Capital Management Inc. KS cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 358,667 shares of the wireless technology company's stock after selling 3,266 shares during the quarter. QUALCOMM makes up about 1.1% of Kornitzer Capital Management Inc. KS's investment portfolio, making the stock its 17th largest position. Kornitzer Capital Management Inc. KS's holdings in QUALCOMM were worth $55,098,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of QCOM. Reston Wealth Management LLC purchased a new stake in QUALCOMM during the third quarter valued at about $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $27,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after acquiring an additional 114 shares during the period. Accordant Advisory Group Inc bought a new position in QUALCOMM during the 3rd quarter worth approximately $36,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $38,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the company's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,239,273.03. Following the transaction, the general counsel now directly owns 17,153 shares in the company, valued at approximately $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on QCOM shares. Sanford C. Bernstein increased their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Loop Capital started coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a "hold" rating and a $180.00 price target for the company. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $210.00 to $195.00 and set an "overweight" rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna reduced their price target on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Down 4.8 %

Shares of QCOM stock traded down $8.27 during trading hours on Friday, hitting $165.43. 12,520,589 shares of the company's stock traded hands, compared to its average volume of 7,784,163. 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 stock's fifty day simple moving average is $164.46 and its two-hundred day simple moving average is $165.72. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The stock has a market cap of $182.97 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.03 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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%. On average, analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

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.