Dearborn Partners LLC Lowers Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Dearborn Partners LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,011 shares of the wireless technology company's stock after selling 3,920 shares during the period. QUALCOMM accounts for about 1.8% of Dearborn Partners LLC's portfolio, making the stock its 13th biggest position. Dearborn Partners LLC's holdings in QUALCOMM were worth $43,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of QCOM. Independent Advisor Alliance lifted its stake in QUALCOMM by 7.1% in the fourth quarter. Independent Advisor Alliance now owns 45,471 shares of the wireless technology company's stock worth $6,985,000 after purchasing an additional 3,000 shares during the last quarter. Paragon Private Wealth Management LLC increased its stake in QUALCOMM by 7.1% in the fourth quarter. Paragon Private Wealth Management LLC now owns 3,397 shares of the wireless technology company's stock worth $522,000 after purchasing an additional 224 shares during the period. Meriwether Wealth & Planning LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth $224,000. Johnson Investment Counsel Inc. boosted its stake in shares of QUALCOMM by 1.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 32,025 shares of the wireless technology company's stock valued at $4,920,000 after purchasing an additional 361 shares during the period. Finally, Tiemann Investment Advisors LLC grew its holdings in shares of QUALCOMM by 7.6% in the fourth quarter. Tiemann Investment Advisors LLC now owns 1,697 shares of the wireless technology company's stock worth $261,000 after purchasing an additional 120 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now owns 59,778 shares in the company, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders sold 30,555 shares of company stock valued at $5,094,134 over the last quarter. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on QCOM. Rosenblatt Securities reissued a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Piper Sandler lowered their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday. Melius Research assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Finally, Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. One 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

QUALCOMM Stock Performance

QCOM stock traded down $0.86 during trading on Thursday, reaching $151.94. The company had a trading volume of 5,834,592 shares, compared to its average volume of 8,292,576. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company has a market cap of $168.05 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm has a 50-day simple moving average of $164.70 and a 200-day simple moving average of $164.61.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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 $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, March 6th. QUALCOMM's payout ratio is 36.32%.

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.