Kessler Investment Group LLC Sells 187 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Kessler Investment Group LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,387 shares of the wireless technology company’s stock after selling 187 shares during the period. Kessler Investment Group LLC’s holdings in QUALCOMM were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter worth approximately $27,000. Planning Capital Management Corp boosted its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the period. Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is owned by institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’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 owns 48,778 shares of the company’s stock, valued at $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock worth $7,785,781 over the last 90 days. 0.08% of the stock is owned by company insiders.

QUALCOMM Price Performance

QCOM stock opened at $172.23 on Friday. The firm’s 50-day moving average price is $162.87 and its two-hundred day moving average price is $165.55. QUALCOMM Incorporated has a 12-month low of $148.90 and a 12-month high of $230.63. The stock has a market capitalization of $190.49 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 2.80 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities analysts predict that QUALCOMM Incorporated will post 9.19 earnings per share for the current 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. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

Several research analysts have commented on QCOM shares. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. UBS Group raised their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Finally, Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One investment 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Company 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.