BOK Financial Private Wealth Inc. Cuts Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

BOK Financial Private Wealth Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 31.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,530 shares of the wireless technology company’s stock after selling 715 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in QUALCOMM were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in QCOM. Amundi increased its position in shares of QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of QUALCOMM during the fourth quarter worth approximately $527,053,000. Pacer Advisors Inc. increased its position in shares of QUALCOMM by 1,702.6% during the third quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock worth $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 1,989,725 shares in the last quarter. Finally, Two Sigma Advisers LP increased its position in shares of QUALCOMM by 202.6% during the third 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. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM opened at $161.22 on Monday. The stock’s 50-day moving average price is $164.76 and its 200 day moving average price is $165.03. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market cap of $178.31 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling

In other QUALCOMM news, General Counsel Ann C. Chaplin sold 7,717 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the sale, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. This represents a 31.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Neil Martin sold 744 shares of the company’s 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 owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,045 shares of company stock valued at $7,752,423. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on QCOM shares. Loop Capital started coverage on QUALCOMM in a research report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. Susquehanna dropped their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $205.32.

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.