SG Americas Securities LLC Sells 413,517 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

SG Americas Securities LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 86.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,337 shares of the wireless technology company’s stock after selling 413,517 shares during the period. SG Americas Securities LLC’s holdings in QUALCOMM were worth $10,191,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of QCOM. Fred Alger Management LLC grew its holdings in shares of QUALCOMM by 5.8% during the 2nd quarter. Fred Alger Management LLC now owns 55,972 shares of the wireless technology company’s stock valued at $11,149,000 after purchasing an additional 3,078 shares during the last quarter. APG Asset Management US Inc. grew its stake in shares of QUALCOMM by 14.1% during the second quarter. APG Asset Management US Inc. now owns 390,115 shares of the wireless technology company’s stock valued at $78,035,000 after buying an additional 48,179 shares during the last quarter. Employees Retirement System of Texas purchased a new position in shares of QUALCOMM in the second quarter worth about $9,326,000. Drucker Wealth 3.0 LLC bought a new stake in shares of QUALCOMM in the 2nd quarter valued at about $1,431,000. Finally, Delta Investment Management LLC boosted its holdings in QUALCOMM by 7.2% during the 2nd quarter. Delta Investment Management LLC now owns 2,839 shares of the wireless technology company’s stock valued at $565,000 after acquiring an additional 191 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In related news, CAO Neil Martin sold 1,304 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the sale, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the completion of the transaction, the general counsel now directly owns 19,739 shares of the company’s stock, valued at approximately $3,121,130.68. This trade represents a 11.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,882 shares of company stock worth $4,314,649 over the last 90 days. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 2.4 %

Shares of NASDAQ:QCOM opened at $174.36 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $159.05 and a two-hundred day simple moving average of $168.04. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63. The stock has a market capitalization of $193.71 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 2.79 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.12 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 1.95%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is 37.82%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on QCOM. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.57.

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.