Perpetual Ltd Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Perpetual Ltd trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 224,392 shares of the wireless technology company’s stock after selling 2,935 shares during the period. Perpetual Ltd’s holdings in QUALCOMM were worth $34,471,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Paulson Wealth Management Inc. lifted its holdings in shares of QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after purchasing an additional 61 shares during the period. Blossom Wealth Management raised its position in QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares during the last quarter. Delta Financial Advisors LLC lifted its stake in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after acquiring an additional 65 shares during the period. Muirfield Wealth Advisors LLC boosted its holdings in shares of QUALCOMM by 3.1% in the 3rd quarter. Muirfield Wealth Advisors LLC now owns 2,176 shares of the wireless technology company’s stock valued at $370,000 after acquiring an additional 66 shares during the last quarter. Finally, Invst LLC increased its stake in shares of QUALCOMM by 2.9% in the second quarter. Invst LLC now owns 2,365 shares of the wireless technology company’s stock worth $473,000 after acquiring an additional 67 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI upped their price target on shares of QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Wednesday, November 20th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Citigroup decreased their price target on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Sanford C. Bernstein lifted their target price on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

Insider Buying and Selling at QUALCOMM

In other news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $165.06, for a total transaction of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares of the company’s stock, valued at approximately $1,981,875.42. The trade was a 13.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,882 shares of company stock worth $4,314,649 in the last three months. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $164.56 on Tuesday. The firm has a 50-day simple moving average of $158.85 and a 200-day simple moving average of $168.57. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25. QUALCOMM Incorporated has a 52 week low of $139.26 and a 52 week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. On average, equities analysts predict that QUALCOMM Incorporated will post 9.12 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. This represents a $3.40 dividend on an annualized basis and a yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.

QUALCOMM Company 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.