Kovitz Investment Group Partners LLC Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Kovitz Investment Group Partners LLC cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 227,026 shares of the wireless technology company's stock after selling 82,004 shares during the period. Kovitz Investment Group Partners LLC's holdings in QUALCOMM were worth $34,876,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keyvantage Wealth LLC acquired a new position in QUALCOMM in the 4th quarter worth about $233,000. Stonebridge Capital Advisors LLC increased its position in shares of QUALCOMM by 2.2% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 129,269 shares of the wireless technology company's stock valued at $19,858,000 after buying an additional 2,764 shares in the last quarter. Hancock Whitney Corp raised its stake in shares of QUALCOMM by 2.9% during the 4th quarter. Hancock Whitney Corp now owns 31,856 shares of the wireless technology company's stock worth $4,894,000 after buying an additional 891 shares during the period. Empire Financial Management Company LLC lifted its position in shares of QUALCOMM by 32.0% during the 4th quarter. Empire Financial Management Company LLC now owns 12,738 shares of the wireless technology company's stock valued at $1,957,000 after buying an additional 3,090 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its stake in QUALCOMM by 0.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 215,859 shares of the wireless technology company's stock valued at $33,160,000 after acquiring an additional 775 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Down 0.6 %

QUALCOMM stock traded down $0.94 during mid-day trading on Monday, hitting $147.62. The company had a trading volume of 5,732,015 shares, compared to its average volume of 8,460,621. The stock has a market cap of $163.27 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The business has a fifty day moving average of $150.11 and a 200 day moving average of $159.37.

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

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be paid a $0.89 dividend. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, June 5th. QUALCOMM's dividend payout ratio is presently 38.03%.

Wall Street Analyst Weigh In

Several research firms have issued reports on QCOM. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Rosenblatt Securities reiterated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark restated a "buy" rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $201.21.

Insider Buying and Selling

In other news, CAO Neil Martin sold 744 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,666 shares of company stock worth $5,047,052. 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.