Financial Counselors Inc. Sells 627 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Financial Counselors Inc. cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,939 shares of the wireless technology company’s stock after selling 627 shares during the quarter. Financial Counselors Inc.’s holdings in QUALCOMM were worth $30,561,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in QCOM. Vanguard Group Inc. boosted its stake in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after buying an additional 707,468 shares in the last quarter. State Street Corp increased its stake in shares of QUALCOMM by 1.7% in the 3rd quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares during the period. Geode Capital Management LLC raised its holdings in QUALCOMM by 7.9% during 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 purchasing an additional 1,989,725 shares during the last quarter. Amundi lifted its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock worth $1,485,575,000 after purchasing an additional 193,236 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at approximately $10,716,927. This trade represents a 4.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Melius began coverage on QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Up 0.0 %

QUALCOMM stock opened at $160.15 on Wednesday. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The stock has a market capitalization of $177.13 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The business has a fifty day moving average price of $164.59 and a 200-day moving average price of $163.96.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS 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%. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced 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 of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. QUALCOMM’s 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.