Prudential Financial Inc. Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Prudential Financial Inc. cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,710,120 shares of the wireless technology company's stock after selling 37,688 shares during the period. Prudential Financial Inc. owned about 0.15% of QUALCOMM worth $262,709,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new stake in QUALCOMM during the 4th quarter worth approximately $29,000. Synergy Asset Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of QUALCOMM in the third quarter worth approximately $39,000. Institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Down 3.3 %

Shares of QUALCOMM stock traded down $5.25 during trading on Friday, hitting $152.72. The stock had a trading volume of 8,915,861 shares, compared to its average volume of 8,605,322. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm's fifty day simple moving average is $164.16 and its 200-day simple moving average is $163.82. The stock has a market cap of $168.91 billion, a PE ratio of 16.32, a PEG ratio of 2.01 and a beta of 1.28.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced 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 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 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. QUALCOMM's payout ratio is 36.32%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on QCOM shares. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Cantor Fitzgerald reissued a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Barclays cut their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Melius assumed coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated 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 trade represents a 6.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the business'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 sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by insiders.

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.