Leisure Capital Management Has $3.22 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Leisure Capital Management lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 6.5% in the 4th quarter, HoldingsChannel reports. The fund owned 22,279 shares of the wireless technology company’s stock after selling 1,561 shares during the quarter. QUALCOMM accounts for about 1.7% of Leisure Capital Management’s holdings, making the stock its 11th biggest holding. Leisure Capital Management’s holdings in QUALCOMM were worth $3,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its holdings in QUALCOMM by 102.5% during the third 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 acquired a new position in QUALCOMM during the third quarter worth $29,000. Fortitude Family Office LLC acquired a new position in QUALCOMM during the fourth quarter worth $35,000. Cranbrook Wealth Management LLC boosted its position in QUALCOMM by 68.0% during the fourth 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 period. Finally, Leith Wheeler Investment Counsel Ltd. boosted its position in QUALCOMM by 184.3% during the fourth 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 period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Buying and Selling

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 transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares in the company, valued at approximately $103,232.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the sale, the chief executive officer now directly owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock worth $5,973,728 in the last ninety days. 0.08% of the stock is owned by insiders.

QUALCOMM Stock Up 1.4 %

NASDAQ QCOM traded up $2.36 on Friday, reaching $165.66. 7,141,339 shares of the stock traded hands, compared to its average volume of 6,691,146. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The company has a fifty day moving average price of $165.84 and a 200-day moving average price of $144.47. The company has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.24 and a beta of 1.41. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during 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%. As a group, research analysts forecast that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.05%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s payout ratio is 46.38%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on QCOM. Piper Sandler boosted their target price on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Evercore ISI started coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective for the company. KeyCorp upped their price objective on QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Finally, TD Cowen increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

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.