Strategy Asset Managers LLC Trims Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Strategy Asset Managers LLC cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 16.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,589 shares of the wireless technology company’s stock after selling 527 shares during the quarter. Strategy Asset Managers LLC’s holdings in QUALCOMM were worth $398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of QCOM. Allianz SE purchased a new stake in QUALCOMM in the fourth quarter worth about $10,620,000. Cambridge Financial Group Inc. bought a new position in shares of QUALCOMM in the 4th quarter worth approximately $6,292,000. Mechanics Financial Corp lifted its position in QUALCOMM by 46.7% during the fourth quarter. Mechanics Financial Corp now owns 1,364 shares of the wireless technology company’s stock valued at $210,000 after buying an additional 434 shares during the period. Accent Capital Management LLC boosted its stake in QUALCOMM by 86.7% during the fourth quarter. Accent Capital Management LLC now owns 8,378 shares of the wireless technology company’s stock worth $1,287,000 after acquiring an additional 3,891 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its holdings in QUALCOMM by 18.5% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 2,441,570 shares of the wireless technology company’s stock worth $375,074,000 after acquiring an additional 381,380 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Benchmark restated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Mizuho decreased their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Finally, StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 3.3 %

Shares of QCOM stock opened at $152.72 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a fifty day simple moving average of $164.16 and a two-hundred day simple moving average of $163.84. The firm has a market capitalization of $168.91 billion, a PE ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.