Parcion Private Wealth LLC Lowers Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Parcion Private Wealth LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOMFree Report) by 29.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,421 shares of the wireless technology company’s stock after selling 1,000 shares during the period. Parcion Private Wealth LLC’s holdings in QUALCOMM were worth $350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in QCOM. Fairfield Bush & CO. increased its stake in shares of QUALCOMM by 1.3% in the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock worth $4,712,000 after acquiring an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of QUALCOMM by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock worth $338,027,000 after purchasing an additional 245,335 shares during the last quarter. Merit Financial Group LLC increased its position in shares of QUALCOMM by 25.2% during the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after purchasing an additional 555 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of QUALCOMM by 23.8% during the 1st quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after purchasing an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of QUALCOMM by 30.4% during the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after purchasing an additional 79,827 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Rosenblatt Securities raised their target price on QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Barclays raised their target price on QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $150.00 price objective on shares of QUALCOMM in a research note on Monday, March 4th. Finally, Piper Sandler lifted their price objective on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $148.71.

View Our Latest Stock Report on QUALCOMM

QUALCOMM Price Performance

QCOM stock opened at $171.04 on Wednesday. The business has a 50 day moving average price of $159.20 and a 200 day moving average price of $137.68. The stock has a market cap of $190.88 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.35 and a beta of 1.41. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOMGet Free Report) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities research analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.87%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $168.27, for a total transaction of $1,346,160.00. Following the transaction, the chief technology officer now owns 261,893 shares of the company’s stock, valued at $44,068,735.11. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider James J. Cathey sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now owns 4,972 shares of the company’s stock, valued at $691,108. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $168.27, for a total value of $1,346,160.00. Following the completion of the transaction, the chief technology officer now directly owns 261,893 shares in the company, valued at approximately $44,068,735.11. The disclosure for this sale can be found here. Insiders have sold a total of 42,360 shares of company stock valued at $6,803,208 over the last quarter. Company insiders own 0.08% of the company’s stock.

About QUALCOMM

(Free Report)

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.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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