Strategic Financial Services Inc. Sells 545 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Strategic Financial Services Inc. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 19,176 shares of the wireless technology company’s stock after selling 545 shares during the period. Strategic Financial Services Inc.’s holdings in QUALCOMM were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of 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 worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new position in QUALCOMM in the 4th quarter worth $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 worth $542,688,000 after acquiring an additional 3,014,302 shares during the period. 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 worth $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. 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 worth $350,626,000 after acquiring an additional 1,380,500 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the completion of the sale, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $158.26 on Thursday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The firm’s 50 day moving average is $164.54 and its 200-day moving average is $164.15. The firm has a market capitalization of $175.04 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 2.01 and a beta of 1.28. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

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 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%. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal 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 dividend of $0.85 per share. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s payout ratio is 36.32%.

Analysts Set New Price Targets

QCOM has been the topic of several research reports. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Evercore ISI dropped their price objective 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. Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Finally, Benchmark restated a “buy” rating and set a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Company 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.