Sentry Investment Management LLC Sells 553 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sentry Investment Management LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,608 shares of the wireless technology company’s stock after selling 553 shares during the quarter. Sentry Investment Management LLC’s holdings in QUALCOMM were worth $708,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. GHP Investment Advisors Inc. increased its position in QUALCOMM by 15.3% during the third quarter. GHP Investment Advisors Inc. now owns 769 shares of the wireless technology company’s stock valued at $131,000 after acquiring an additional 102 shares during the last quarter. Modera Wealth Management LLC grew its stake in shares of QUALCOMM by 1.0% during the 3rd quarter. Modera Wealth Management LLC now owns 17,679 shares of the wireless technology company’s stock valued at $3,006,000 after purchasing an additional 173 shares during the period. J.W. Cole Advisors Inc. grew its stake in shares of QUALCOMM by 14.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 14,262 shares of the wireless technology company’s stock valued at $2,425,000 after purchasing an additional 1,781 shares during the period. FCG Investment Co purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at about $1,799,000. Finally, Gemmer Asset Management LLC lifted its stake in shares of QUALCOMM by 193.7% in the 3rd quarter. Gemmer Asset Management LLC now owns 11,840 shares of the wireless technology company’s stock worth $2,013,000 after purchasing an additional 7,809 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on QCOM shares. Wells Fargo & Company boosted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the company an “underweight” rating in a research report on Thursday, November 7th. Susquehanna decreased their target price on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Transactions at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,708 shares of company stock worth $7,713,734 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $161.10 on Tuesday. The firm has a market cap of $178.18 billion, a PE ratio of 17.21, a PEG ratio of 2.01 and a beta of 1.25. The stock has a 50 day moving average of $164.52 and a 200 day moving average of $165.81. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. On average, research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s payout ratio is currently 36.32%.

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.