Gulf International Bank UK Ltd Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Gulf International Bank UK Ltd reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 86,671 shares of the wireless technology company’s stock after selling 961 shares during the period. Gulf International Bank UK Ltd’s holdings in QUALCOMM were worth $13,314,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new position in shares of QUALCOMM during the 3rd quarter valued at about $26,000. CKW Financial Group bought a new position in QUALCOMM in the fourth quarter worth approximately $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM during the fourth quarter valued at approximately $29,000. Planning Capital Management Corp raised its position in shares of QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after purchasing an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $38,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the firm’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 transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 20,762 shares in the company, valued at approximately $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. In the last three months, insiders have sold 46,708 shares of company stock worth $7,713,734. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Up 0.5 %

QCOM stock opened at $162.10 on Thursday. 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 fifty-two week low of $149.43 and a fifty-two week high of $230.63. The stock has a market capitalization of $179.28 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.01 and a beta of 1.25. The business’s fifty day moving average price is $164.77 and its two-hundred day moving average price is $165.76.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data 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%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be paid 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 2.10%. QUALCOMM’s payout ratio is 36.32%.

Analyst Ratings Changes

QCOM has been the subject of a number of research analyst reports. Sanford C. Bernstein upped their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price objective on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.