Corient Private Wealth LLC Cuts Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Corient Private Wealth LLC cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 672,250 shares of the wireless technology company's stock after selling 41,989 shares during the period. Corient Private Wealth LLC owned about 0.06% of QUALCOMM worth $102,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its stake in QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the last quarter. Amundi boosted its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of QUALCOMM by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after acquiring an additional 193,236 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company's stock valued at $1,421,037,000 after acquiring an additional 498,284 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

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QUALCOMM Stock Down 0.8 %

QUALCOMM stock traded down $1.27 during midday trading on Tuesday, reaching $156.68. The stock had a trading volume of 3,047,356 shares, compared to its average volume of 7,849,247. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company has a market capitalization of $173.29 billion, a P/E ratio of 16.72, a PEG ratio of 2.01 and a beta of 1.28. The company has a fifty day moving average price of $164.64 and a two-hundred day moving average price of $164.32. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on QCOM. Susquehanna cut their price objective on QUALCOMM from $230.00 to $210.00 and set a "positive" rating on the stock in a report on Wednesday, November 20th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Barclays cut their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at $9,374,385.96. The trade was a 5.29 % 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. Insiders own 0.08% of the company's stock.

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.