QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Decreased by Horizon Investments LLC

Horizon Investments LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 24.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,266 shares of the wireless technology company’s stock after selling 6,673 shares during the period. Horizon Investments LLC’s holdings in QUALCOMM were worth $3,113,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. TBH Global Asset Management LLC grew its stake in shares of QUALCOMM by 0.9% during the fourth quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company’s stock valued at $1,083,000 after purchasing an additional 63 shares during the last quarter. PDS Planning Inc boosted its position in QUALCOMM by 1.6% in the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company’s stock valued at $631,000 after buying an additional 64 shares during the last quarter. CFS Investment Advisory Services LLC increased its stake 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 buying an additional 65 shares during the period. Toth Financial Advisory Corp increased its stake 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 buying an additional 65 shares during the period. Finally, Cassady Schiller Wealth Management LLC lifted its stake in shares of QUALCOMM by 15.8% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 477 shares of the wireless technology company’s stock valued at $73,000 after acquiring an additional 65 shares during the period. Institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,968 shares of company stock valued at $4,685,077. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on QCOM shares. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Barclays lowered their price target 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. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Susquehanna lowered their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. Finally, Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and a consensus target price of $205.32.

QUALCOMM Stock Performance

QCOM opened at $156.29 on Wednesday. The company has a market capitalization of $172.86 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 2.01 and a beta of 1.28. The business’s 50-day moving average price is $164.56 and its two-hundred day moving average price is $164.19. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. 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 (NASDAQ:QCOM) last released 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 net margin of 25.94% and a return on equity of 39.51%. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 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.