Simmons Bank Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Simmons Bank reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,710 shares of the wireless technology company’s stock after selling 162 shares during the quarter. Simmons Bank’s holdings in QUALCOMM were worth $3,642,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Checchi Capital Advisers LLC lifted its position in shares of QUALCOMM by 1.2% in the fourth quarter. Checchi Capital Advisers LLC now owns 15,096 shares of the wireless technology company’s stock valued at $2,319,000 after acquiring an additional 186 shares in the last quarter. Sabal Trust CO lifted its position in shares of QUALCOMM by 5.4% in the fourth quarter. Sabal Trust CO now owns 3,884 shares of the wireless technology company’s stock valued at $597,000 after acquiring an additional 200 shares in the last quarter. Shayne & Jacobs LLC lifted its position in shares of QUALCOMM by 3.9% in the fourth quarter. Shayne & Jacobs LLC now owns 5,326 shares of the wireless technology company’s stock valued at $818,000 after acquiring an additional 200 shares in the last quarter. National Pension Service lifted its position in shares of QUALCOMM by 1.2% in the fourth quarter. National Pension Service now owns 2,426,064 shares of the wireless technology company’s stock valued at $372,692,000 after acquiring an additional 27,595 shares in the last quarter. Finally, Sitrin Capital Management LLC lifted its position in shares of QUALCOMM by 1.0% in the fourth quarter. Sitrin Capital Management LLC now owns 30,174 shares of the wireless technology company’s stock valued at $4,635,000 after acquiring an additional 302 shares in the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares in the company, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Ann C. Chaplin sold 2,587 shares of the firm’s stock in a transaction on 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 owns 19,739 shares in the company, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,708 shares of company stock valued at $7,713,734. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent analyst reports. Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI reduced their target price on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Finally, Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

Shares of QUALCOMM stock opened at $162.10 on Thursday. The stock has a market cap of $179.28 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The business has a fifty day simple moving average of $164.77 and a 200-day simple moving average of $165.76. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 2.10%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

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.