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

Corient Private Wealth LLC lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 672,250 shares of the wireless technology company's stock after selling 41,989 shares during the quarter. Corient Private Wealth LLC owned 0.06% of QUALCOMM worth $102,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the fourth quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the fourth quarter valued at $27,000. Centricity Wealth Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at $29,000. Synergy Asset Management LLC bought a new position in shares of QUALCOMM during the 4th quarter worth $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM in the 3rd quarter worth about $39,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on QCOM shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius Research started coverage on QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of "Moderate Buy" and an average price target of $205.32.

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QUALCOMM Trading Up 0.9 %

Shares of QUALCOMM stock traded up $1.37 during trading on Monday, reaching $157.95. The company's stock had a trading volume of 5,780,967 shares, compared to its average volume of 8,215,244. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a market cap of $174.69 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The firm's 50-day moving average is $164.68 and its two-hundred day moving average is $164.40. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

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

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,968 shares of company stock valued at $4,685,077 over the last ninety days. 0.08% of the stock is owned by insiders.

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.