Selway Asset Management Sells 110 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Selway Asset Management cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,599 shares of the wireless technology company’s stock after selling 110 shares during the quarter. QUALCOMM accounts for 2.8% of Selway Asset Management’s holdings, making the stock its 7th largest holding. Selway Asset Management’s holdings in QUALCOMM were worth $7,159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at $29,000. CoreFirst Bank & Trust acquired a new position in QUALCOMM during the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM during the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’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 directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $154.08 on Thursday. 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 has a market cap of $170.41 billion, a PE ratio of 16.46, a P/E/G ratio of 2.01 and a beta of 1.28. The stock has a fifty day moving average price of $163.33 and a 200 day moving average price of $163.57. QUALCOMM Incorporated has a 1-year low of $147.88 and a 1-year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Melius Research started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Mizuho cut their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.