Simplicity Wealth LLC Sells 5,645 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Simplicity Wealth LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 67.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,770 shares of the wireless technology company’s stock after selling 5,645 shares during the quarter. Simplicity Wealth LLC’s holdings in QUALCOMM were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in QCOM. Amundi raised its holdings in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares in the last quarter. Raymond James Financial Inc. acquired a new position in QUALCOMM in the 4th quarter valued at approximately $527,053,000. Pacer Advisors Inc. raised its holdings in QUALCOMM by 1,702.6% in the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after acquiring an additional 3,014,302 shares in the last quarter. Geode Capital Management LLC raised its holdings in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares in the last quarter. Finally, Two Sigma Advisers LP raised its holdings in QUALCOMM by 202.6% in the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after acquiring an additional 1,380,500 shares in the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 744 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,955 shares of company stock worth $4,847,350. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 3.9 %

Shares of QCOM opened at $154.98 on Tuesday. The firm has a market capitalization of $171.41 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The business’s fifty day moving average price is $164.77 and its two-hundred day moving average price is $164.93. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63.

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

QUALCOMM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.19%. QUALCOMM’s payout ratio is 36.32%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent research reports. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Melius started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.