Shelton Capital Management Sells 1,615 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Shelton Capital Management lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,882 shares of the wireless technology company’s stock after selling 1,615 shares during the period. Shelton Capital Management’s holdings in QUALCOMM were worth $22,103,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after buying an additional 523,244 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in QUALCOMM by 21.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after acquiring an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new position in QUALCOMM during the 4th quarter worth about $2,058,000. Burney Co. grew its holdings in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $240,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 1,781 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the sale, the chief financial officer now directly owns 57,997 shares of the company’s stock, valued at approximately $7,661,403.70. This trade represents a 2.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,749 shares of company stock worth $4,920,347 in the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Up 1.8 %

QUALCOMM stock opened at $129.72 on Tuesday. The business’s 50-day moving average price is $160.91 and its 200 day moving average price is $162.74. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $143.47 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week 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 analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on QCOM. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Melius initiated coverage on QUALCOMM in a research note 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, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average 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.