QUALCOMM Incorporated (NASDAQ:QCOM) Position Lessened by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 53.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,696 shares of the wireless technology company's stock after selling 21,307 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in QUALCOMM were worth $2,891,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. TBH Global Asset Management LLC raised its position in QUALCOMM by 0.9% in the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock worth $1,083,000 after acquiring an additional 63 shares in the last quarter. PDS Planning Inc increased its holdings in shares of QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock valued at $631,000 after purchasing an additional 64 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in shares of QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company's stock valued at $336,000 after purchasing an additional 65 shares during the period. CFS Investment Advisory Services LLC boosted its holdings in QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after buying an additional 65 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC grew its position in QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company's stock worth $73,000 after buying an additional 65 shares during the period. 74.35% of the stock is owned by institutional investors and hedge funds.

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QUALCOMM Trading Up 2.1 %

QCOM traded up $3.26 on Monday, reaching $160.08. 6,030,583 shares of the company's stock were exchanged, compared to its average volume of 8,230,023. QUALCOMM Incorporated has a twelve month low of $149.43 and a twelve month high of $230.63. The company's 50 day moving average is $164.51 and its 200-day moving average is $163.97. 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 company has a market cap of $177.05 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data 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%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 36.32%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on QCOM shares. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price on the stock. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. One 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 given a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

Insider Transactions at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now directly owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 over the last quarter. Company insiders own 0.08% of the company's stock.

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.