TD Private Client Wealth LLC Sells 2,913 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

TD Private Client Wealth LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 29.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,971 shares of the wireless technology company's stock after selling 2,913 shares during the quarter. TD Private Client Wealth LLC's holdings in QUALCOMM were worth $1,071,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Amundi boosted its stake in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $527,053,000. Geode Capital Management LLC increased its holdings in shares of QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company's stock valued at $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Two Sigma Advisers LP raised its stake in shares of QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company's stock worth $350,626,000 after purchasing an additional 1,380,500 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company's stock worth $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. StockNews.com downgraded shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Melius assumed coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Melius Research began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a "hold" rating and a $180.00 price target for the company. Finally, Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and an average price target of $205.32.

Insider Buying and Selling

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM 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 transaction, the insider now owns 20,762 shares of the company's stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $130,073.52. Following the completion of the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % 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 worth $4,685,077 in the last 90 days. Insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

QCOM traded down $0.42 on Thursday, hitting $157.97. 6,094,444 shares of the stock were exchanged, compared to its average volume of 8,213,519. 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 has a market capitalization of $174.71 billion, a price-to-earnings ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The business has a 50-day moving average of $164.47 and a two-hundred day moving average of $163.92. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month 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 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%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued 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%.

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.