New Century Financial Group LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

New Century Financial Group LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 21.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,365 shares of the wireless technology company’s stock after selling 364 shares during the quarter. New Century Financial Group LLC’s holdings in QUALCOMM were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Paulson Wealth Management Inc. raised its holdings in QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 61 shares during the last quarter. Blossom Wealth Management increased its holdings in shares of QUALCOMM by 2.6% in the third quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock valued at $434,000 after purchasing an additional 64 shares during the last quarter. Delta Financial Advisors LLC lifted its position in QUALCOMM by 2.1% during the third quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares in the last quarter. Muirfield Wealth Advisors LLC boosted its stake in QUALCOMM by 3.1% during the third quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock worth $370,000 after buying an additional 66 shares during the last quarter. Finally, Invst LLC grew its holdings in QUALCOMM by 2.9% in the 2nd quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock valued at $473,000 after buying an additional 67 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $172.11 on Friday. The business has a 50-day simple moving average of $159.26 and a 200-day simple moving average of $168.08. The company has a market cap of $191.21 billion, a PE ratio of 19.14, a P/E/G ratio of 2.84 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities research analysts forecast that QUALCOMM Incorporated will post 9.14 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 37.82%.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was 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 in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock valued at $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on QCOM. Wells Fargo & Company lifted their price target on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Finally, Loop Capital initiated coverage on QUALCOMM in a research report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective for the company. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $206.57.

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.