Dearborn Partners LLC Reduces Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Dearborn Partners LLC reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 280,011 shares of the wireless technology company’s stock after selling 3,920 shares during the period. QUALCOMM comprises 1.8% of Dearborn Partners LLC’s investment portfolio, making the stock its 13th largest position. Dearborn Partners LLC’s holdings in QUALCOMM were worth $43,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in shares of QUALCOMM by 39.7% in the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at approximately $2,058,000. Burney Co. raised its holdings in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC purchased a new stake in QUALCOMM in the fourth quarter worth $240,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research analyst reports. Mizuho reduced their price objective 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. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. 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 report on Wednesday, November 20th. Melius Research initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

Insiders Place Their Bets

In other news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,955 shares of company stock valued at $4,847,350. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 3.9 %

QCOM stock opened at $154.98 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The stock has a market capitalization of $171.41 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.01 and a beta of 1.28. The business has a fifty day moving average price of $164.77 and a 200-day moving average price of $164.93.

QUALCOMM (NASDAQ:QCOM) last issued its 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%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

QUALCOMM 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.