Global Retirement Partners LLC Sells 1,551 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Global Retirement Partners LLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% in the 4th quarter, HoldingsChannel reports. The fund owned 29,517 shares of the wireless technology company’s stock after selling 1,551 shares during the quarter. Global Retirement Partners LLC’s holdings in QUALCOMM were worth $4,534,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Atlas Legacy Advisors LLC acquired a new position in QUALCOMM during the 4th quarter valued at about $254,000. Bank of Jackson Hole Trust acquired a new position in shares of QUALCOMM in the fourth quarter valued at about $87,000. Klingman & Associates LLC boosted its stake in shares of QUALCOMM by 11.4% in the fourth quarter. Klingman & Associates LLC now owns 1,994 shares of the wireless technology company’s stock worth $306,000 after buying an additional 204 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of QUALCOMM by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 1,422,293 shares of the wireless technology company’s stock worth $218,493,000 after buying an additional 3,739 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of QUALCOMM by 81.4% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 59,828 shares of the wireless technology company’s stock worth $9,191,000 after buying an additional 26,845 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on QCOM shares. Evercore ISI lowered their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. UBS Group increased their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Melius began coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Trading Up 0.9 %

QCOM opened at $175.22 on Thursday. QUALCOMM Incorporated has a 52 week low of $148.90 and a 52 week high of $230.63. The business has a fifty day simple moving average of $164.01 and a 200-day simple moving average of $165.61. The firm has a market cap of $193.79 billion, a P/E ratio of 18.72, a P/E/G ratio of 1.99 and a beta of 1.25. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current 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. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated 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 sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,964 shares of company stock worth $7,583,661. Company 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.