Hussman Strategic Advisors Inc. Sells 6,300 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Hussman Strategic Advisors Inc. decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,500 shares of the wireless technology company’s stock after selling 6,300 shares during the period. QUALCOMM accounts for approximately 1.4% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 6th biggest position. Hussman Strategic Advisors Inc.’s holdings in QUALCOMM were worth $4,839,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Reston Wealth Management LLC bought a new stake in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter valued at approximately $27,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% in the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after acquiring an additional 114 shares in the last quarter. Accordant Advisory Group Inc acquired a new position in shares of QUALCOMM during the 3rd quarter worth $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 0.9 %

Shares of QCOM opened at $175.22 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $164.01 and a two-hundred day moving average price of $165.61. The stock has a market cap of $193.79 billion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 12 month low of $148.90 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted 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%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Ann C. Chaplin sold 7,717 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 $1,239,273.03. Following the completion of the transaction, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,964 shares of company stock worth $7,583,661 in the last quarter. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on QCOM shares. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

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.