Thoroughbred Financial Services LLC Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Thoroughbred Financial Services LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,185 shares of the wireless technology company’s stock after selling 1,313 shares during the period. Thoroughbred Financial Services LLC’s holdings in QUALCOMM were worth $3,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after acquiring an additional 707,468 shares in the last quarter. State Street Corp increased its holdings in 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 purchasing an additional 870,814 shares during the period. Geode Capital Management LLC increased its holdings in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock worth $4,262,826,000 after purchasing an additional 670,432 shares during the period. Norges Bank bought a new stake in QUALCOMM during the 4th quarter valued at $2,721,882,000. Finally, Amundi lifted its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the period. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 9.5 %

QCOM opened at $139.42 on Friday. QUALCOMM Incorporated has a 52 week low of $138.07 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $162.63 and a 200-day simple moving average of $163.40. The firm has a market cap of $154.20 billion, a P/E ratio of 14.90, a P/E/G ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last released 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, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.44%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

QCOM has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. Piper Sandler dropped 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. Finally, Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

Insider Buying and Selling at QUALCOMM

In related news, 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 sale, the insider now owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following 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 position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock valued at $4,685,077 in the last 90 days. Company insiders own 0.08% of the company’s stock.

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.