HM Payson & Co. Has $995,000 Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

HM Payson & Co. reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.8% in the 4th quarter, Holdings Channel reports. The firm owned 6,476 shares of the wireless technology company’s stock after selling 399 shares during the period. HM Payson & Co.’s holdings in QUALCOMM were worth $995,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its position in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after buying an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $2,058,000. Burney Co. increased its holdings in shares of QUALCOMM by 665.6% during the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after buying an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC acquired a new position in shares of QUALCOMM during the fourth quarter worth $240,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Price Performance

QCOM stock opened at $161.22 on Friday. The stock has a market capitalization of $178.31 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company’s 50-day moving average is $164.76 and its 200-day moving average is $165.09. 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 1 year low of $149.43 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released 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%. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QCOM. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 4th. Finally, Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set 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, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 10,373 shares of the company’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 completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,045 shares of company stock valued at $7,752,423 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

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.