Cigna Investments Inc. New Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cigna Investments Inc. New decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,451 shares of the wireless technology company’s stock after selling 70 shares during the quarter. Cigna Investments Inc. New’s holdings in QUALCOMM were worth $1,759,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Sovran Advisors LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth $457,000. Stonebridge Financial Group LLC bought a new position in QUALCOMM during the fourth quarter valued at about $3,553,000. Essex Financial Services Inc. lifted its stake in QUALCOMM by 14.5% in the 4th quarter. Essex Financial Services Inc. now owns 11,569 shares of the wireless technology company’s stock worth $1,777,000 after acquiring an additional 1,464 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in QUALCOMM by 38.1% in the 4th quarter. Focus Financial Network Inc. now owns 6,278 shares of the wireless technology company’s stock worth $964,000 after purchasing an additional 1,731 shares during the last quarter. Finally, Sapient Capital LLC increased its position in QUALCOMM by 1.9% in the 4th quarter. Sapient Capital LLC now owns 90,095 shares of the wireless technology company’s stock worth $13,840,000 after buying an additional 1,690 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.0 %

QCOM stock opened at $171.36 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62. The company has a market capitalization of $189.52 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The business’s 50 day moving average price is $162.15 and its two-hundred day moving average price is $165.55. QUALCOMM Incorporated has a fifty-two week low of $148.41 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

A number of equities research analysts recently commented on QCOM shares. Piper Sandler dropped their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Citigroup dropped their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 1,304 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,268 shares of company stock valued at $7,276,381. Company insiders own 0.08% of the company’s stock.

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.