Tandem Capital Management Corp ADV Sells 868 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Tandem Capital Management Corp ADV reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,654 shares of the wireless technology company’s stock after selling 868 shares during the quarter. QUALCOMM makes up approximately 2.4% of Tandem Capital Management Corp ADV’s investment portfolio, making the stock its 7th biggest position. Tandem Capital Management Corp ADV’s holdings in QUALCOMM were worth $3,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. increased its holdings in QUALCOMM by 102.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. Legacy Financial Group LLC purchased a new stake in QUALCOMM during the 3rd quarter worth approximately $29,000. Fortitude Family Office LLC purchased a new stake in QUALCOMM during the 4th quarter worth approximately $35,000. Cranbrook Wealth Management LLC increased its holdings in QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. increased its holdings in QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock worth $37,000 after purchasing an additional 163,963 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on QCOM. Benchmark began coverage on QUALCOMM in a research report on Tuesday. They issued a “buy” rating and a $200.00 target price for the company. Rosenblatt Securities lifted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Canaccord Genuity Group boosted their price objective on QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, January 19th. TD Cowen boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Mizuho boosted their price objective on QUALCOMM from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,260 shares of company stock valued at $5,973,728. Company insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.2 %

Shares of QUALCOMM stock traded down $0.33 on Thursday, reaching $163.30. 6,212,797 shares of the company were exchanged, compared to its average volume of 8,540,617. The stock has a fifty day moving average price of $165.58 and a 200-day moving average price of $144.10. The firm has a market capitalization of $182.24 billion, a price-to-earnings ratio of 23.67, a price-to-earnings-growth ratio of 2.21 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.08%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM’s payout ratio is presently 46.38%.

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.