RNC Capital Management LLC Has $10.15 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

RNC Capital Management LLC lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,091 shares of the wireless technology company’s stock after selling 1,744 shares during the quarter. RNC Capital Management LLC’s holdings in QUALCOMM were worth $10,153,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Strategic Financial Concepts LLC boosted its holdings in QUALCOMM by 15,753.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 541,381 shares of the wireless technology company’s stock worth $83,167,000 after purchasing an additional 537,966 shares during the last quarter. Ledyard National Bank boosted its holdings in QUALCOMM by 5.6% during the fourth quarter. Ledyard National Bank now owns 1,331 shares of the wireless technology company’s stock worth $204,000 after purchasing an additional 71 shares during the last quarter. Leo Wealth LLC boosted its holdings in QUALCOMM by 139.8% during the fourth quarter. Leo Wealth LLC now owns 7,277 shares of the wireless technology company’s stock worth $1,118,000 after purchasing an additional 4,243 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in QUALCOMM in the fourth quarter valued at $1,020,000. Finally, Oakworth Capital Inc. lifted its stake in QUALCOMM by 11.8% in the fourth quarter. Oakworth Capital Inc. now owns 4,287 shares of the wireless technology company’s stock valued at $659,000 after acquiring an additional 454 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 10,373 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total value of $1,665,800.07. Following the completion of the sale, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. This represents a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $155.00, for a total transaction of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. The trade was a 93.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,981 shares of company stock worth $4,000,870. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 3.7 %

QUALCOMM stock opened at $169.32 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $143.63 and a 12-month high of $230.63. The firm’s fifty day moving average is $161.70 and its 200 day moving average is $166.02. The company has a market capitalization of $188.11 billion, a PE ratio of 18.83, a PEG ratio of 2.87 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 9.16 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analyst Weigh In

A number of brokerages have commented on QCOM. Sanford C. Bernstein increased their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler cut their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday. Melius began coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Thursday, November 7th. Finally, Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has an average 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.