Corient Private Wealth LLC Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Corient Private Wealth LLC lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 672,250 shares of the wireless technology company’s stock after selling 41,989 shares during the period. Corient Private Wealth LLC’s holdings in QUALCOMM were worth $102,817,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the 4th quarter worth about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at about $29,000. Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the fourth quarter valued at about $38,000. Finally, Legacy Investment Solutions LLC purchased a new stake in QUALCOMM in the third quarter worth about $39,000. 74.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm’s 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 sale, the insider now directly owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % 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 owned by corporate insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $156.58 on Monday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a market capitalization of $173.18 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. 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 firm has a 50 day moving average of $164.68 and a 200 day moving average of $164.40.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data 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%. On average, research analysts anticipate that QUALCOMM Incorporated will post 9.39 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. 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 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QCOM. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. 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. Benchmark reaffirmed a “buy” rating and issued a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Barclays dropped their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. One equities 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. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

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.