Keynote Financial Services LLC Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Keynote Financial Services LLC lessened its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,461 shares of the wireless technology company’s stock after selling 95 shares during the quarter. QUALCOMM comprises approximately 1.1% of Keynote Financial Services LLC’s holdings, making the stock its 24th largest position. Keynote Financial Services LLC’s holdings in QUALCOMM were worth $1,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased 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 valued at $542,688,000 after purchasing an additional 3,014,302 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after buying an additional 1,989,725 shares during the period. Van ECK Associates Corp grew its stake in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock valued at $1,250,644,000 after buying an additional 1,741,432 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of QUALCOMM by 202.6% during the 3rd quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after buying an additional 1,380,500 shares during the period. Finally, State Street Corp lifted its position in QUALCOMM by 1.7% during the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock worth $8,777,289,000 after acquiring an additional 870,814 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

QCOM has been the subject of several recent research reports. Morgan Stanley lowered their price objective on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a research report on Thursday, November 7th. Susquehanna dropped their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research note on Wednesday, November 20th. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Piper Sandler lowered their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Benchmark reiterated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Price Performance

Shares of QUALCOMM stock opened at $157.18 on Friday. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock has a market cap of $173.84 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.01 and a beta of 1.25. The company’s 50-day moving average price is $164.94 and its two-hundred day moving average price is $165.62.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 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%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

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 paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Transactions 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 shares were sold at an average price of $174.83, for a total value 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 approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,708 shares of company stock valued at $7,713,734 over the last three months. Company insiders own 0.08% of the company’s stock.

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.