DDD Partners LLC Sells 37,992 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

DDD Partners LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 20.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 145,707 shares of the wireless technology company’s stock after selling 37,992 shares during the period. QUALCOMM comprises 2.8% of DDD Partners LLC’s portfolio, making the stock its 11th largest holding. DDD Partners LLC’s holdings in QUALCOMM were worth $21,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares in the last quarter. BlackRock Inc. grew its holdings in shares of QUALCOMM by 1.4% during the second quarter. BlackRock Inc. now owns 85,088,444 shares of the wireless technology company’s stock valued at $10,128,928,000 after buying an additional 1,191,089 shares during the last quarter. State Street Corp grew its holdings in shares of QUALCOMM by 1.1% during the second quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock valued at $5,837,985,000 after buying an additional 549,861 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after buying an additional 24,566,978 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after buying an additional 3,929,586 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares in the company, valued at approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the sale, the insider now owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock worth $5,457,048 in the last three months. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Cantor Fitzgerald reiterated a “neutral” rating and set a $150.00 price target on shares of QUALCOMM in a report on Monday, March 4th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, February 1st. Mizuho raised their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 target price on the stock. in a report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

QUALCOMM Trading Up 1.2 %

Shares of QUALCOMM stock opened at $169.13 on Thursday. The company’s fifty day simple moving average is $157.05 and its 200-day simple moving average is $135.64. The stock has a market capitalization of $188.75 billion, a PE ratio of 24.51, a P/E/G ratio of 2.28 and a beta of 1.41. QUALCOMM Incorporated has a 1-year low of $101.47 and a 1-year high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. As a group, equities analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s payout ratio is 46.38%.

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.