Wealthfront Advisers LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Wealthfront Advisers LLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 49.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,749 shares of the wireless technology company’s stock after selling 49,765 shares during the period. Wealthfront Advisers LLC’s holdings in QUALCOMM were worth $7,950,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after acquiring an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in QUALCOMM by 21.9% during 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 acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in QUALCOMM during the 4th quarter worth about $2,058,000. Burney Co. lifted its stake in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC acquired a new position in QUALCOMM during the 4th quarter worth about $240,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.2 %

NASDAQ:QCOM opened at $152.80 on Thursday. The stock’s 50 day moving average price is $164.74 and its 200 day moving average price is $164.70. The company has a market capitalization of $169.00 billion, a PE ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.23%. QUALCOMM’s dividend payout ratio (DPR) is currently 36.32%.

Analyst Ratings Changes

QCOM has been the topic of several research reports. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Piper Sandler reduced their price target on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Mizuho reduced their price target on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Susquehanna reduced their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the firm’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 completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,555 shares of company stock worth $5,094,134. 0.08% of the stock is currently owned by insiders.

QUALCOMM Company 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.