QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Entropy Technologies LP

Entropy Technologies LP decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 41.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,457 shares of the wireless technology company’s stock after selling 13,697 shares during the quarter. Entropy Technologies LP’s holdings in QUALCOMM were worth $2,989,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new stake in shares of QUALCOMM during the third quarter worth $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM during the fourth quarter worth $27,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% in the third 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 last quarter. Accordant Advisory Group Inc acquired a new position in QUALCOMM in the third quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

QCOM has been the topic of a number of research analyst reports. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research report on Thursday. Finally, Sanford C. Bernstein raised their price objective on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $167.96 on Friday. The company’s fifty day moving average is $162.15 and its two-hundred day moving average is $165.86. 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 12-month low of $146.29 and a 12-month high of $230.63. The company has a market cap of $185.76 billion, a P/E ratio of 17.94, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. Equities analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total transaction of $409,056.44. Following the completion of the transaction, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,981 shares of company stock worth $4,000,870. Corporate insiders own 0.08% of the company’s stock.

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.