QUALCOMM Incorporated (NASDAQ:QCOM) Position Cut by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 19.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 42,847 shares of the wireless technology company’s stock after selling 10,097 shares during the quarter. Advisors Asset Management Inc.’s holdings in QUALCOMM were worth $6,582,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group bought a new position in QUALCOMM during the 4th quarter valued at $27,000. Centricity Wealth Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter valued at $29,000. Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $38,000. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of QUALCOMM in the third quarter valued at $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $156.29 on Wednesday. The company has a 50 day moving average price of $164.56 and a two-hundred day moving average price of $164.19. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The stock has a market capitalization of $172.86 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.18%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Analyst Ratings Changes

A number of research firms recently issued reports on QCOM. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Barclays decreased their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.