Mandatum Life Insurance Co Ltd Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Mandatum Life Insurance Co Ltd reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,905 shares of the wireless technology company’s stock after selling 64 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in QUALCOMM were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Client 1ST Advisory Group LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $216,000. Grove Bank & Trust lifted its position in shares of QUALCOMM by 10.2% during the fourth quarter. Grove Bank & Trust now owns 2,966 shares of the wireless technology company’s stock worth $456,000 after purchasing an additional 275 shares in the last quarter. Delta Capital Management LLC lifted its position in shares of QUALCOMM by 0.8% during the fourth quarter. Delta Capital Management LLC now owns 25,080 shares of the wireless technology company’s stock worth $3,853,000 after purchasing an additional 200 shares in the last quarter. Artemis Investment Management LLP boosted its stake in shares of QUALCOMM by 16.8% in the fourth quarter. Artemis Investment Management LLP now owns 75,508 shares of the wireless technology company’s stock valued at $11,600,000 after purchasing an additional 10,867 shares during the period. Finally, Oak Ridge Investments LLC grew its holdings in shares of QUALCOMM by 3.8% in the fourth quarter. Oak Ridge Investments LLC now owns 8,083 shares of the wireless technology company’s stock valued at $1,242,000 after purchasing an additional 296 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock valued at $4,314,649 over the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Trading Up 1.9 %

Shares of QUALCOMM stock opened at $164.56 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market capitalization of $182.83 billion, a P/E ratio of 18.30, a PEG ratio of 2.63 and a beta of 1.25. QUALCOMM Incorporated has a 1 year low of $139.26 and a 1 year high of $230.63. The company’s fifty day moving average is $158.85 and its two-hundred day moving average is $168.82.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.90 billion. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. Analysts forecast that QUALCOMM Incorporated will post 9.09 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on QCOM shares. Susquehanna decreased their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Morgan Stanley reduced their price target on QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 7th. Finally, UBS Group boosted their price objective on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

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.