Dudley Capital Management LLC Sells 622 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Dudley Capital Management LLC lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,108 shares of the wireless technology company’s stock after selling 622 shares during the quarter. Dudley Capital Management LLC’s holdings in QUALCOMM were worth $1,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Nicolet Advisory Services LLC boosted its holdings in QUALCOMM by 20.0% in the third quarter. Nicolet Advisory Services LLC now owns 1,701 shares of the wireless technology company’s stock valued at $287,000 after acquiring an additional 283 shares during the last quarter. Centaurus Financial Inc. lifted its position in QUALCOMM by 17.8% during the 3rd quarter. Centaurus Financial Inc. now owns 9,784 shares of the wireless technology company’s stock valued at $1,664,000 after purchasing an additional 1,477 shares during the period. Summit Trail Advisors LLC lifted its position in QUALCOMM by 14.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 14,787 shares of the wireless technology company’s stock valued at $2,514,000 after purchasing an additional 1,909 shares during the period. Bank of Hawaii boosted its stake in shares of QUALCOMM by 1.3% in the 3rd quarter. Bank of Hawaii now owns 18,374 shares of the wireless technology company’s stock valued at $3,125,000 after purchasing an additional 228 shares during the last quarter. Finally, Truvestments Capital LLC grew its position in shares of QUALCOMM by 4.2% during the 3rd quarter. Truvestments Capital LLC now owns 33,991 shares of the wireless technology company’s stock worth $5,780,000 after buying an additional 1,380 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $160.08 on Tuesday. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company’s fifty day simple moving average is $164.57 and its 200-day simple moving average is $163.95. The firm has a market cap of $177.05 billion, a PE ratio of 17.10, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last issued 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 return on equity of 39.51% and a net margin of 25.94%. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.12%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company’s stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock worth $4,685,077 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on QCOM shares. Piper Sandler cut their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average 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.