Callan Capital LLC Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Callan Capital LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,851 shares of the wireless technology company’s stock after selling 372 shares during the period. Callan Capital LLC’s holdings in QUALCOMM were worth $438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Mount Yale Investment Advisors LLC grew its position in QUALCOMM by 4.0% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 7,602 shares of the wireless technology company’s stock worth $1,293,000 after purchasing an additional 293 shares during the period. BayBridge Capital Group LLC grew its position in QUALCOMM by 2.3% during the 3rd quarter. BayBridge Capital Group LLC now owns 7,928 shares of the wireless technology company’s stock worth $1,348,000 after purchasing an additional 175 shares during the period. Trueblood Wealth Management LLC grew its position in QUALCOMM by 3.0% during the 3rd quarter. Trueblood Wealth Management LLC now owns 10,676 shares of the wireless technology company’s stock worth $1,815,000 after purchasing an additional 315 shares during the period. Legacy Wealth Asset Management LLC grew its position in QUALCOMM by 2.0% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 4,620 shares of the wireless technology company’s stock worth $786,000 after purchasing an additional 91 shares during the period. Finally, Country Club Bank grew its position in QUALCOMM by 1.9% during the 3rd quarter. Country Club Bank now owns 6,760 shares of the wireless technology company’s stock worth $1,150,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of several analyst reports. Morgan Stanley cut their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Friday. Sanford C. Bernstein raised their target price on QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Trading Down 4.8 %

QCOM opened at $165.43 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company’s 50 day simple moving average is $164.46 and its two-hundred day simple moving average is $165.77. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The firm has a market capitalization of $182.97 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,708 shares of company stock valued at $7,713,734 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM 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.