Gleason Group Inc. Sells 1,256 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Gleason Group Inc. lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,319 shares of the wireless technology company’s stock after selling 1,256 shares during the period. Gleason Group Inc.’s holdings in QUALCOMM were worth $915,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CoreFirst Bank & Trust grew its holdings in shares of QUALCOMM by 103.1% during the second quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock worth $25,000 after buying an additional 100 shares in the last quarter. IAG Wealth Partners LLC grew its stake in shares of QUALCOMM by 62.3% during the 3rd quarter. IAG Wealth Partners LLC now owns 224 shares of the wireless technology company’s stock worth $25,000 after acquiring an additional 86 shares in the last quarter. Sycomore Asset Management raised its holdings in shares of QUALCOMM by 150.0% in the fourth quarter. Sycomore Asset Management now owns 230 shares of the wireless technology company’s stock valued at $25,000 after purchasing an additional 138 shares during the last quarter. Glassy Mountain Advisors Inc. acquired a new position in QUALCOMM during the fourth quarter worth $28,000. Finally, Syverson Strege & Co boosted its holdings in QUALCOMM by 124.3% during the second quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock worth $31,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 70.87% of the company’s stock.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 27,626 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $131.48, for a total transaction of $3,632,266.48. Following the completion of the sale, the insider now directly owns 23,637 shares in the company, valued at approximately $3,107,792.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Jeffrey William Henderson sold 2,500 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $124.05, for a total value of $310,125.00. Following the transaction, the director now directly owns 4,605 shares of the company’s stock, valued at $571,250.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 27,626 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $131.48, for a total transaction of $3,632,266.48. Following the transaction, the insider now owns 23,637 shares of the company’s stock, valued at $3,107,792.76. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

QUALCOMM Stock Up 0.2 %

QCOM opened at $120.73 on Friday. The stock has a fifty day moving average of $125.43 and a 200-day moving average of $121.05. The company has a market capitalization of $134.61 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.94 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $101.93 and a fifty-two week high of $161.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.41 and a current ratio of 2.09.

QUALCOMM (NASDAQ:QCOM – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The wireless technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.02. QUALCOMM had a net margin of 27.40% and a return on equity of 69.93%. The business had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the previous year, the company earned $2.96 EPS. The business’s revenue was down 11.6% on a year-over-year basis. On average, equities analysts expect that QUALCOMM Incorporated will post 8.21 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 2nd will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, March 1st. QUALCOMM’s dividend payout ratio is currently 28.90%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QCOM. Cowen cut their price target on shares of QUALCOMM from $165.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, February 3rd. Wells Fargo & Company increased their price target on QUALCOMM from $105.00 to $130.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. Morgan Stanley boosted their price target on QUALCOMM from $126.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. StockNews.com assumed coverage on QUALCOMM in a report on Thursday. They issued a “hold” rating for the company. Finally, Raymond James began coverage on shares of QUALCOMM in a research report on Wednesday, March 1st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus target price of $156.48.

QUALCOMM Profile

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.