Horan Capital Advisors LLC. Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Horan Capital Advisors LLC. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,323 shares of the wireless technology company’s stock after selling 1,146 shares during the period. QUALCOMM accounts for approximately 2.0% of Horan Capital Advisors LLC.’s investment portfolio, making the stock its 11th biggest holding. Horan Capital Advisors LLC.’s holdings in QUALCOMM were worth $5,398,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bordeaux Wealth Advisors LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $276,000. Loudon Investment Management LLC grew its stake in shares of QUALCOMM by 0.9% during the fourth quarter. Loudon Investment Management LLC now owns 41,767 shares of the wireless technology company’s stock worth $6,041,000 after acquiring an additional 382 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of QUALCOMM by 535.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 235,703 shares of the wireless technology company’s stock valued at $34,090,000 after acquiring an additional 198,627 shares in the last quarter. Summit Global Investments raised its position in shares of QUALCOMM by 5.2% in the 4th quarter. Summit Global Investments now owns 28,492 shares of the wireless technology company’s stock valued at $4,121,000 after purchasing an additional 1,397 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in QUALCOMM by 899.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 475,064 shares of the wireless technology company’s stock worth $68,709,000 after purchasing an additional 427,516 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM traded down $0.46 on Friday, reaching $179.64. The stock had a trading volume of 10,041,403 shares, compared to its average volume of 8,755,839. The business’s 50-day moving average price is $167.20 and its two-hundred day moving average price is $146.11. The company has a market cap of $200.48 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 2.25 and a beta of 1.33. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $183.19. 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 (NASDAQ:QCOM) last announced 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 during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.24% and a net margin of 23.03%. Sell-side analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Thursday, May 30th. QUALCOMM’s dividend payout ratio (DPR) is presently 49.28%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on QCOM. Wolfe Research raised their price target on shares of QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Evercore ISI assumed coverage on QUALCOMM in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 target price for the company. Rosenblatt Securities boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. HSBC raised their price objective on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their target price on QUALCOMM from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 directly owns 69,343 shares in the company, valued at approximately $12,030,317.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders sold a total of 44,260 shares of company stock valued at $7,429,728 in the last three months. 0.08% of the stock is currently owned by company insiders.

About QUALCOMM

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.