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

TD Private Client Wealth LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 29.5% during the 4th quarter, Holdings Channel reports. 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 hedge funds have also added to or reduced their stakes in the business. Nicolet Advisory Services LLC boosted its stake in QUALCOMM by 20.0% during the third quarter. Nicolet Advisory Services LLC now owns 1,701 shares of the wireless technology company’s stock worth $287,000 after acquiring an additional 283 shares in the last quarter. Great Valley Advisor Group Inc. boosted its position in shares of QUALCOMM by 11.5% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 35,539 shares of the wireless technology company’s stock worth $6,043,000 after purchasing an additional 3,657 shares in the last quarter. Algert Global LLC grew its stake in shares of QUALCOMM by 1,748.8% in the 3rd quarter. Algert Global LLC now owns 33,944 shares of the wireless technology company’s stock valued at $5,772,000 after buying an additional 32,108 shares during the period. Alpha DNA Investment Management LLC increased its position in QUALCOMM by 112.7% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 12,858 shares of the wireless technology company’s stock valued at $2,187,000 after buying an additional 6,813 shares in the last quarter. Finally, Centaurus Financial Inc. raised its stake in QUALCOMM by 17.8% during the 3rd quarter. Centaurus Financial Inc. now owns 9,784 shares of the wireless technology company’s stock worth $1,664,000 after buying an additional 1,477 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on 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 in the company, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated 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 in the company, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Price Performance

QUALCOMM stock opened at $156.82 on Monday. The business’s 50 day simple moving average is $164.51 and its 200 day simple moving average is $163.97. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The company has a market cap of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG 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) last posted its quarterly 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 return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm 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. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.17%. QUALCOMM’s payout ratio is 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.