Embree Financial Group Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Embree Financial Group lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,506 shares of the wireless technology company’s stock after selling 78 shares during the quarter. Embree Financial Group’s holdings in QUALCOMM were worth $231,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in QCOM. Maverick Capital Ltd. boosted its position in QUALCOMM by 49.7% during the second quarter. Maverick Capital Ltd. now owns 8,344 shares of the wireless technology company’s stock worth $1,662,000 after acquiring an additional 2,771 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of QUALCOMM during the 2nd quarter worth approximately $896,000. Kathmere Capital Management LLC purchased a new stake in shares of QUALCOMM in the second quarter valued at approximately $295,000. Ascent Group LLC increased its holdings in shares of QUALCOMM by 13.4% in the second quarter. Ascent Group LLC now owns 2,829 shares of the wireless technology company’s stock valued at $564,000 after purchasing an additional 335 shares during the last quarter. Finally, Full Sail Capital LLC lifted its position in QUALCOMM by 24.1% during the second quarter. Full Sail Capital LLC now owns 1,731 shares of the wireless technology company’s stock worth $345,000 after buying an additional 336 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research note on Thursday, November 7th. Evercore ISI raised their price objective on shares of QUALCOMM from $190.00 to $199.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Melius Research initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Finally, Loop Capital initiated coverage on shares of QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Trading Down 1.3 %

QCOM opened at $172.11 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The stock has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. The business has a fifty day moving average price of $159.49 and a 200 day moving average price of $167.83. QUALCOMM Incorporated has a 12 month low of $139.26 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.14 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued 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 1.98%. QUALCOMM’s payout ratio is 37.82%.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the sale, the chief financial officer now directly owns 48,778 shares in the company, valued at $7,879,598.12. This trade represents a 5.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,882 shares of company stock valued at $4,314,649. Insiders own 0.08% of the company’s stock.

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.