QUALCOMM Incorporated (NASDAQ:QCOM) Position Trimmed by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,709,569 shares of the wireless technology company’s stock after selling 52,722 shares during the quarter. QUALCOMM makes up 0.8% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 24th biggest position. CIBC Private Wealth Group LLC owned approximately 0.24% of QUALCOMM worth $431,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB lifted its position in QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in QUALCOMM by 21.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock valued at $4,239,000 after buying an additional 4,955 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of QUALCOMM during the 4th quarter worth about $2,058,000. Burney Co. boosted its holdings in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC acquired a new position in shares of QUALCOMM during the fourth quarter valued at approximately $240,000. 74.35% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’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 of the company’s stock, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Down 3.3 %

QCOM opened at $152.72 on Friday. The company has a market capitalization of $168.91 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a 50-day moving average of $164.16 and a 200-day moving average of $163.84. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 net margin of 25.94% and a return on equity of 39.51%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analysts Set New Price Targets

QCOM has been the subject of a number of research reports. Barclays decreased their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus 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.