Tacita Capital Inc Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Tacita Capital Inc lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 41.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 270 shares of the wireless technology company’s stock after selling 195 shares during the quarter. Tacita Capital Inc’s holdings in QUALCOMM were worth $41,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Bedel Financial Consulting Inc. lifted its position in shares of QUALCOMM by 3.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 3,414 shares of the wireless technology company’s stock worth $524,000 after purchasing an additional 105 shares during the period. Steward Partners Investment Advisory LLC lifted its position in shares of QUALCOMM by 6.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 89,966 shares of the wireless technology company’s stock worth $13,821,000 after purchasing an additional 5,226 shares during the period. Unified Investment Management purchased a new stake in shares of QUALCOMM in the 4th quarter worth approximately $1,352,000. Meridian Wealth Management LLC raised its stake in shares of QUALCOMM by 37.1% during the 4th quarter. Meridian Wealth Management LLC now owns 13,143 shares of the wireless technology company’s stock worth $2,010,000 after acquiring an additional 3,556 shares in the last quarter. Finally, Silver Coast Investments LLC bought a new position in shares of QUALCOMM during the 4th quarter worth approximately $289,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on QCOM shares. UBS Group boosted their price objective on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Loop Capital started coverage on shares of QUALCOMM in a research note on Monday, November 11th. They set a “hold” rating and a $180.00 price objective for the company. Barclays reduced 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. Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now directly owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,045 shares of company stock worth $8,237,043 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Down 2.3 %

QCOM stock opened at $153.62 on Tuesday. The firm’s fifty day moving average is $164.84 and its 200 day moving average is $165.47. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63. The firm has a market cap of $169.90 billion, a PE ratio of 16.41, a P/E/G ratio of 2.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

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.