Allworth Financial LP Sells 7,569 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Allworth Financial LP reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 50,996 shares of the wireless technology company’s stock after selling 7,569 shares during the quarter. Allworth Financial LP’s holdings in QUALCOMM were worth $8,682,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of QCOM. State Street Corp boosted its position in shares of QUALCOMM by 1.7% in 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 purchasing an additional 870,814 shares during the last quarter. Geode Capital Management LLC boosted its holdings in QUALCOMM by 7.9% during the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of QUALCOMM by 6.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,356,581 shares of the wireless technology company’s stock worth $1,421,037,000 after buying an additional 498,284 shares during the period. Van ECK Associates Corp increased its stake in shares of QUALCOMM by 30.2% in the 3rd quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after acquiring an additional 1,741,432 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of QUALCOMM by 1.6% in the 3rd quarter. Franklin Resources Inc. now owns 6,832,693 shares of the wireless technology company’s stock valued at $1,213,023,000 after acquiring an additional 110,828 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the sale, the general counsel now owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. The trade was a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at approximately $14,570. This represents a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock valued at $7,785,781 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Mizuho lowered their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Susquehanna dropped their price objective on QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler cut their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Sanford C. Bernstein increased their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. One equities research 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 company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $172.23 on Monday. The company has a current ratio of 2.62, a quick ratio of 1.79 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $163.13 and a 200 day simple moving average of $165.49. QUALCOMM Incorporated has a 1-year low of $148.90 and a 1-year high of $230.63. The stock has a market capitalization of $190.49 billion, a PE ratio of 18.40, a P/E/G ratio of 2.80 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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%. On average, research analysts expect that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is presently 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.