Deseret Mutual Benefit Administrators Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Deseret Mutual Benefit Administrators cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,728 shares of the wireless technology company’s stock after selling 1,902 shares during the period. Deseret Mutual Benefit Administrators’ holdings in QUALCOMM were worth $1,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Courier Capital LLC grew its stake in QUALCOMM by 14.6% in the 3rd quarter. Courier Capital LLC now owns 2,908 shares of the wireless technology company’s stock worth $495,000 after acquiring an additional 370 shares during the period. McAdam LLC boosted its holdings in shares of QUALCOMM by 11.5% during the third quarter. McAdam LLC now owns 1,900 shares of the wireless technology company’s stock worth $323,000 after purchasing an additional 196 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of QUALCOMM by 17,357.3% in the third quarter. International Assets Investment Management LLC now owns 2,936,310 shares of the wireless technology company’s stock valued at $499,320,000 after purchasing an additional 2,919,490 shares during the period. YHB Investment Advisors Inc. increased its stake in QUALCOMM by 3.7% in the third quarter. YHB Investment Advisors Inc. now owns 2,365 shares of the wireless technology company’s stock valued at $402,000 after purchasing an additional 85 shares during the last quarter. Finally, DT Investment Partners LLC lifted its position in QUALCOMM by 4.2% during the third quarter. DT Investment Partners LLC now owns 7,605 shares of the wireless technology company’s stock worth $1,293,000 after buying an additional 307 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 4.8 %

Shares of NASDAQ QCOM opened at $165.43 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The stock’s 50-day simple moving average is $164.46 and its 200-day simple moving average is $165.72. The firm has a market cap of $182.97 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the sale, the chief financial officer now owns 48,778 shares of the company’s stock, valued at $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. Insiders sold a total of 46,708 shares of company stock valued at $7,713,734 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on QCOM shares. Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Friday. Morgan Stanley dropped their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.