Freestone Capital Holdings LLC Has $14.20 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Freestone Capital Holdings LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,449 shares of the wireless technology company’s stock after selling 4,156 shares during the period. Freestone Capital Holdings LLC’s holdings in QUALCOMM were worth $14,202,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. ASB Consultores LLC raised its position in shares of QUALCOMM by 15.1% during the third quarter. ASB Consultores LLC now owns 1,484 shares of the wireless technology company’s stock worth $252,000 after purchasing an additional 195 shares during the period. United Advisor Group LLC acquired a new stake in shares of QUALCOMM during the third quarter worth about $393,000. HMS Capital Management LLC raised its position in shares of QUALCOMM by 1.2% during the third quarter. HMS Capital Management LLC now owns 10,127 shares of the wireless technology company’s stock worth $1,722,000 after purchasing an additional 121 shares during the period. Hixon Zuercher LLC raised its position in shares of QUALCOMM by 4.1% during the third quarter. Hixon Zuercher LLC now owns 7,053 shares of the wireless technology company’s stock worth $1,199,000 after purchasing an additional 277 shares during the period. Finally, Beacon Financial Advisory LLC raised its position in shares of QUALCOMM by 2.3% during the third quarter. Beacon Financial Advisory LLC now owns 4,048 shares of the wireless technology company’s stock worth $688,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $158.49 on Thursday. The business has a fifty day simple moving average of $164.73 and a 200 day simple moving average of $165.29. The company has a market capitalization of $175.29 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,045 shares of company stock valued at $7,752,423 in the last three months. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent research reports. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Barclays dropped their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One investment 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 company. According to MarketBeat.com, QUALCOMM presently 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.