Sachetta LLC Sells 91 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sachetta LLC reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,981 shares of the wireless technology company’s stock after selling 91 shares during the period. Sachetta LLC’s holdings in QUALCOMM were worth $919,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. MBB Public Markets I LLC raised its position in shares of QUALCOMM by 3,776.1% in the second quarter. MBB Public Markets I LLC now owns 106,594 shares of the wireless technology company’s stock valued at $21,231,000 after purchasing an additional 103,844 shares during the period. Maverick Capital Ltd. lifted its position in shares of QUALCOMM by 49.7% during the second quarter. Maverick Capital Ltd. now owns 8,344 shares of the wireless technology company’s stock worth $1,662,000 after acquiring an additional 2,771 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares during the period. Smith Thornton Advisors LLC bought a new position in shares of QUALCOMM in the second quarter worth $444,000. Finally, Security National Bank of SO Dak grew its position in shares of QUALCOMM by 1.2% in the second quarter. Security National Bank of SO Dak now owns 27,564 shares of the wireless technology company’s stock valued at $5,490,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In related news, General Counsel Ann C. Chaplin sold 2,587 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $158.12, for a total value of $409,056.44. Following the sale, the general counsel now directly owns 19,739 shares of the company’s stock, valued at $3,121,130.68. This represents a 11.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares of the company’s stock, valued at $14,570. This represents a 93.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of several analyst reports. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Barclays reduced their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, Benchmark reiterated a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Price Performance

QCOM stock opened at $172.11 on Friday. The stock has a market capitalization of $191.21 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 2.84 and a beta of 1.25. The firm’s 50-day moving average price is $159.26 and its two-hundred day moving average price is $168.08. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 9.14 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s payout ratio is currently 37.82%.

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.