Sei Investments Co. Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Sei Investments Co. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 12.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 846,918 shares of the wireless technology company's stock after selling 120,549 shares during the quarter. Sei Investments Co. owned 0.08% of QUALCOMM worth $130,103,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in QCOM. Nordea Investment Management AB lifted its stake in shares of QUALCOMM by 39.7% in the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock valued at $284,708,000 after acquiring an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new position in QUALCOMM in the fourth quarter valued at about $2,058,000. Burney Co. boosted its stake in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM during the fourth quarter worth about $240,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated 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 transaction, the chief financial officer now directly owns 63,115 shares of the company's stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Rosenblatt Securities reiterated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. StockNews.com lowered shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 12th. Finally, Piper Sandler lowered their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Performance

Shares of QCOM stock traded down $1.76 on Wednesday, hitting $158.39. 5,959,028 shares of the stock were exchanged, compared to its average volume of 8,222,043. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The firm's 50 day moving average is $164.59 and its two-hundred day moving average is $163.96. The firm has a market capitalization of $175.18 billion, a PE ratio of 16.92, a P/E/G ratio of 2.01 and a beta of 1.28. 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 announced 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

About QUALCOMM

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.