Knuff & Co LLC Has $2.26 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Knuff & Co LLC trimmed its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,696 shares of the wireless technology company’s stock after selling 2,838 shares during the period. Knuff & Co LLC’s holdings in QUALCOMM were worth $2,258,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its position in shares of QUALCOMM by 6.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,507 shares of the wireless technology company’s stock valued at $1,153,000 after buying an additional 485 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of QUALCOMM by 4.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 112,367 shares of the wireless technology company’s stock valued at $17,262,000 after buying an additional 4,560 shares during the last quarter. PFG Advisors lifted its position in shares of QUALCOMM by 11.5% in the fourth quarter. PFG Advisors now owns 3,993 shares of the wireless technology company’s stock valued at $613,000 after buying an additional 411 shares during the last quarter. HighTower Advisors LLC lifted its holdings in QUALCOMM by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 1,304,594 shares of the wireless technology company’s stock worth $200,412,000 after purchasing an additional 5,588 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in QUALCOMM by 1.4% during the 4th quarter. Moors & Cabot Inc. now owns 33,177 shares of the wireless technology company’s stock worth $5,097,000 after purchasing an additional 462 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research reports. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Finally, Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Down 1.2 %

QUALCOMM stock opened at $153.10 on Wednesday. The firm has a market capitalization of $169.33 billion, a price-to-earnings ratio of 16.36, a P/E/G 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. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a 50 day moving average of $164.76 and a 200 day moving average of $164.78.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. As a group, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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 given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total transaction of $409,056.44. Following the sale, the general counsel now owns 19,739 shares in the company, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,955 shares of company stock valued at $4,847,350. 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.