Cullen Capital Management LLC Has $67.72 Million Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Cullen Capital Management LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 440,847 shares of the wireless technology company's stock after selling 50,665 shares during the quarter. Cullen Capital Management LLC's holdings in QUALCOMM were worth $67,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $38,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Performance

QUALCOMM stock traded up $1.46 during trading hours on Wednesday, reaching $126.12. 3,143,875 shares of the company were exchanged, compared to its average volume of 8,738,851. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The firm has a market cap of $139.48 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $159.04 and a 200 day moving average of $162.17.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data 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 net margin of 25.94% and a return on equity of 39.51%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.70%. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the completion of the transaction, the chief financial officer now directly owns 57,728 shares of the company's stock, valued at approximately $7,568,140.80. The trade was a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,018 shares of company stock valued at $4,955,613 in the last quarter. Corporate insiders own 0.08% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on QCOM shares. Rosenblatt Securities restated a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Benchmark restated a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of "Moderate Buy" and an average target price of $205.32.

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.