Corient Private Wealth LLC Sells 41,989 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Corient Private Wealth LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 672,250 shares of the wireless technology company’s stock after selling 41,989 shares during the quarter. Corient Private Wealth LLC owned about 0.06% of QUALCOMM worth $102,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of QCOM. Greenwich Wealth Management LLC acquired a new stake in QUALCOMM in the 4th quarter valued at $210,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of QUALCOMM by 8.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 65,062 shares of the wireless technology company’s stock valued at $9,995,000 after buying an additional 4,806 shares during the last quarter. Tidemark LLC increased its position in shares of QUALCOMM by 7.7% during the fourth quarter. Tidemark LLC now owns 1,307 shares of the wireless technology company’s stock worth $201,000 after acquiring an additional 93 shares in the last quarter. one8zero8 LLC acquired a new stake in shares of QUALCOMM in the 4th quarter worth about $2,323,000. Finally, Choate Investment Advisors lifted its position in QUALCOMM by 6.3% in the 4th quarter. Choate Investment Advisors now owns 18,272 shares of the wireless technology company’s stock valued at $2,807,000 after acquiring an additional 1,087 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 3.1 %

QCOM stock opened at $156.58 on Monday. The stock has a 50-day simple moving average of $164.68 and a two-hundred day simple moving average of $164.40. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The firm has a market capitalization of $173.18 billion, a PE ratio of 16.73, a PEG ratio of 2.01 and a beta of 1.28.

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 net margin of 25.94% and a return on equity of 39.51%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s payout ratio is 36.32%.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last 90 days. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on QCOM shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius Research started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.