BOK Financial Private Wealth Inc. Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

BOK Financial Private Wealth Inc. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 31.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,530 shares of the wireless technology company’s stock after selling 715 shares during the quarter. BOK Financial Private Wealth Inc.’s holdings in QUALCOMM were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Paulson Wealth Management Inc. increased its holdings in shares of QUALCOMM by 2.2% in the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after acquiring an additional 61 shares during the last quarter. TBH Global Asset Management LLC increased its holdings in shares of QUALCOMM by 0.9% in the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after acquiring an additional 63 shares during the last quarter. Delta Financial Advisors LLC boosted its position in shares of QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after purchasing an additional 65 shares during the period. Toth Financial Advisory Corp boosted its position in shares of QUALCOMM by 3.1% in the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after purchasing an additional 65 shares during the period. Finally, CFS Investment Advisory Services LLC boosted its position in shares of QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,045 shares of company stock valued at $7,752,423 over the last quarter. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

QCOM has been the subject of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com raised QUALCOMM from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 4th. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Melius Research initiated coverage on QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. Finally, Benchmark reissued a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Performance

QUALCOMM stock opened at $161.22 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The stock has a fifty day moving average of $164.76 and a two-hundred day moving average of $165.03. The company has a market capitalization of $178.31 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. On average, analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm 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 $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

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.