Mirae Asset Global Investments Co. Ltd. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 2.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 869,157 shares of the wireless technology company’s stock after selling 22,012 shares during the period. QUALCOMM makes up 0.6% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 26th biggest holding. Mirae Asset Global Investments Co. Ltd.’s holdings in QUALCOMM were worth $136,417,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of QCOM. Reston Wealth Management LLC acquired a new position in shares of QUALCOMM in the 3rd quarter valued at approximately $26,000. CKW Financial Group bought a new stake in QUALCOMM during the fourth quarter worth $27,000. Planning Capital Management Corp boosted its holdings in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the 4th quarter worth $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.
Analyst Ratings Changes
QCOM has been the topic of a number of recent analyst reports. Mizuho decreased 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. Susquehanna lowered their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Citigroup cut their target price on shares of QUALCOMM from $200.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Evercore ISI raised their price objective on QUALCOMM from $190.00 to $199.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and a consensus target price of $206.57.
QUALCOMM Stock Up 1.6 %
Shares of NASDAQ:QCOM opened at $173.04 on Wednesday. The firm has a market cap of $192.25 billion, a P/E ratio of 19.25, a PEG ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $141.21 and a 52-week high of $230.63. The business’s 50 day simple moving average is $160.99 and its two-hundred day simple moving average is $166.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40.
QUALCOMM (NASDAQ:QCOM – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.25. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, research analysts forecast that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.
QUALCOMM Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.96%. QUALCOMM’s dividend payout ratio (DPR) is currently 37.82%.
Insiders Place Their Bets
In other news, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares in the company, valued at $14,570. This represents a 93.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,981 shares of company stock valued at $4,000,870. Corporate insiders own 0.08% of the company’s stock.
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.
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