Kanawha Capital Management LLC Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kanawha Capital Management LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,841 shares of the wireless technology company's stock after selling 1,649 shares during the quarter. Kanawha Capital Management LLC's holdings in QUALCOMM were worth $12,880,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of QCOM. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $27,000. Planning Capital Management Corp boosted its stake in shares of QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new stake in shares of QUALCOMM during the third quarter valued at about $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter valued at about $38,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,268 shares of company stock valued at $7,785,781. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on QCOM shares. Piper Sandler cut their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Melius started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price objective for the company. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They set a "hold" rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Performance

QCOM stock traded up $0.08 during midday trading on Friday, hitting $172.23. The company's stock had a trading volume of 4,685,871 shares, compared to its average volume of 7,722,617. The stock's 50-day moving average price is $162.87 and its 200 day moving average price is $165.55. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The stock has a market cap of $190.49 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, equities analysts forecast that QUALCOMM Incorporated will post 9.19 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. QUALCOMM's payout ratio is 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.