Candriam S.C.A. Decreases Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Candriam S.C.A. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 596,702 shares of the wireless technology company’s stock after selling 46,582 shares during the period. Candriam S.C.A. owned about 0.05% of QUALCOMM worth $91,665,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM during the fourth quarter worth $29,000. Planning Capital Management Corp boosted its stake in QUALCOMM by 137.3% during the third quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock worth $34,000 after buying an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the fourth quarter valued at $38,000. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,045 shares of company stock valued at $7,752,423 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on QCOM. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Wells Fargo & Company increased their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.49 on Thursday. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The stock has a fifty day simple moving average of $164.73 and a two-hundred day simple moving average of $165.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market cap of $175.29 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts anticipate that QUALCOMM Incorporated will post 9.39 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 given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.