Credit Capital Investments LLC Cuts Its Stake in QUALCOMM Incorporated

Credit Capital Investments LLC has recently decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 13.2% during the fourth quarter, as revealed in its latest Form 13F filing with the Securities and Exchange Commission. After selling 3,300 shares during this period, the firm now holds 21,700 shares of the wireless technology company. QUALCOMM represents approximately 4.3% of Credit Capital Investments LLC's overall portfolio, ranking it as the firm's 12th largest investment. According to the most recent SEC filing, the value of these holdings in QUALCOMM is estimated at $3,334,000.

Institutional Investor Activities

Many other institutional investors and hedge funds have also adjusted their positions in QUALCOMM recently. For instance, Kohmann Bosshard Financial Services LLC established a new position in the fourth quarter valued at $26,000. Similarly, CKW Financial Group and Centricity Wealth Management LLC have each purchased new stakes worth $27,000 and $29,000, respectively. Synergy Asset Management LLC also entered a new position during the fourth quarter, valued at $38,000, while Legacy Investment Solutions LLC purchased shares worth $39,000 in the third quarter. These adjustments indicate that hedge funds and institutional investors collectively own 74.35% of QUALCOMM's shares.

Analyst Insights

Many analysts have shared their thoughts on QUALCOMM recently. Melius initiated coverage on December 9th, producing a research report that gave the company a "hold" rating and set a price target of $180. Similarly, Rosenblatt Securities reaffirmed a "buy" rating on February 6th, with a target price of $250. On the other hand, Barclays reduced its price target from $200 to $185, maintaining an "overweight" rating. StockNews.com has also downgraded QUALCOMM’s status from “strong-buy” to “buy.” Currently, one analyst rates the stock as sell, fourteen provide a hold rating, fifteen give it a buy rating, and one gives it a strong buy rating. MarketBeat reports an overall average rating of "Moderate Buy" with a price target averaging $205.32.

Insider Transactions

In other news regarding QUALCOMM, insider Alexander H. Rogers sold 19,287 shares of the company on February 10th, fetching an average sale price of $169.83 per share, which amounted to a total of $3,275,511.21. Following this transaction, Rogers now owns 20,762 shares, valued at around $3,526,010.46, which signifies a 48.16% reduction in his holding. Additionally, CFO Akash J. Palkhiwala sold 3,337 shares on March 3rd for an average price of $156.82, totaling around $523,308.34. After this sale, the CFO possesses approximately 59,778 shares valued at about $9,374,385.96, marking a 5.29% decrease in his ownership. Over the past ninety days, insiders have sold a total of 27,968 shares worth $4,685,077. Notably, corporate insiders hold only 0.08% of the company's shares.

Current Market Performance

As of Wednesday, QUALCOMM's stock was trading down by 1.1%, opening at $156.29. The company has a market capitalization of $172.86 billion and holds a P/E ratio of 16.70 alongside a P/E/G ratio of 2.01 and a beta of 1.28. The stock has fluctuated between a 52-week low of $149.43 and a high of $230.63. Financial metrics show a quick ratio of 1.99 and a current ratio of 2.62, also highlighting a debt-to-equity ratio of 0.49. The company's latest quarterly earnings report, published on February 5th, revealed earnings per share (EPS) of $2.86, missing analysts' expectations of $2.93 by $0.07. QUALCOMM reported net margins of 25.94% and a return on equity of 39.51%, with predictions indicating an EPS of 9.39 for the current fiscal year.

Dividend Announcement

Moreover, QUALCOMM has recently announced a quarterly dividend, which is scheduled to be paid on March 27th. Shareholders registered on March 6th will receive a dividend of $0.85 per share, with the ex-dividend date also set for March 6th. This is projected to yield an annualized dividend of $3.40, equating to a 2.18% dividend yield. Currently, QUALCOMM's payout ratio stands at 36.32%.

About QUALCOMM Incorporated

QUALCOMM Incorporated is engaged in the development and commercialization of essential technologies for the wireless sector on a global scale. The company operates through three primary segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment focuses on designing and supplying integrated circuits and software systems based on 3G/4G/5G and various other technologies, used in wireless voice and data communications, networking, computing, multimedia, and location-based products.

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