QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,200,031 shares of the wireless technology company’s stock after selling 3,278,935 shares during the period. QUALCOMM comprises approximately 0.6% of Alliancebernstein L.P.’s portfolio, making the stock its 25th biggest holding. Alliancebernstein L.P. owned 1.01% of QUALCOMM worth $1,720,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new position in QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new position in QUALCOMM during the 4th quarter worth $29,000. CoreFirst Bank & Trust bought a new stake in QUALCOMM in the 4th quarter valued at about $33,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QCOM opened at $152.72 on Monday. The firm has a market cap of $168.91 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business’s fifty day moving average is $164.16 and its 200-day moving average is $163.82. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. 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 released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Sell-side analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is presently 36.32%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,968 shares of company stock worth $4,685,077. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on QCOM. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a report on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Melius started coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.