EFG Asset Management Americas Corp. Has $5.94 Million Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

EFG Asset Management Americas Corp. trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% during the fourth quarter, Holdings Channel reports. The firm owned 38,680 shares of the wireless technology company’s stock after selling 613 shares during the period. QUALCOMM comprises 1.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 27th biggest holding. EFG Asset Management Americas Corp.’s holdings in QUALCOMM were worth $5,942,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Paulson Wealth Management Inc. boosted its holdings in QUALCOMM by 2.2% during the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock valued at $475,000 after purchasing an additional 61 shares in the last quarter. TBH Global Asset Management LLC boosted its holdings in 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 in the last quarter. Delta Financial Advisors LLC boosted its holdings in QUALCOMM by 2.1% during the third 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 in the last quarter. Toth Financial Advisory Corp boosted its holdings in QUALCOMM by 3.1% during the fourth 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 in the last quarter. Finally, CFS Investment Advisory Services LLC boosted its holdings 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 worth $929,000 after acquiring an additional 65 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $156.04 on Friday. The firm has a market cap of $172.58 billion, a PE ratio of 16.67, a PEG ratio of 2.01 and a beta of 1.25. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 1-year low of $149.43 and a 1-year high of $230.63. The company has a fifty day moving average price of $164.68 and a 200 day moving average price of $165.23.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share 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%. Research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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 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 2.18%. QUALCOMM’s dividend payout ratio is 36.32%.

Analyst Ratings Changes

Several brokerages have recently commented on QCOM. Sanford C. Bernstein boosted their target price on QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Cantor Fitzgerald reissued a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Wells Fargo & Company boosted their target price on QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a report on Thursday, November 7th. Finally, Melius Research started coverage on QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the transaction, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This represents a 5.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander H. Rogers sold 10,373 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. This represents a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,045 shares of company stock worth $7,752,423 in the last three months. Insiders own 0.08% of the company’s stock.

About QUALCOMM

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.