Torray Investment Partners LLC Sells 21,352 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Torray Investment Partners LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,849 shares of the wireless technology company’s stock after selling 21,352 shares during the period. QUALCOMM comprises about 1.4% of Torray Investment Partners LLC’s holdings, making the stock its 28th largest holding. Torray Investment Partners LLC’s holdings in QUALCOMM were worth $9,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at $29,000. Planning Capital Management Corp boosted its position in QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in QUALCOMM in the 4th quarter worth $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares in the company, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,045 shares of company stock worth $8,237,043. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com raised shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Loop Capital assumed coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 2.3 %

Shares of QCOM stock opened at $153.62 on Tuesday. The stock has a market capitalization of $169.90 billion, a P/E ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm’s 50 day moving average is $164.84 and its 200 day moving average is $165.47. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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%. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

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.