Metis Global Partners LLC Sells 9,388 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Metis Global Partners LLC trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 53,872 shares of the wireless technology company’s stock after selling 9,388 shares during the quarter. Metis Global Partners LLC’s holdings in QUALCOMM were worth $8,276,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after acquiring an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC bought a new position in QUALCOMM in the 4th quarter worth about $2,058,000. Burney Co. grew its stake in QUALCOMM by 665.6% in the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new position in QUALCOMM in the 4th quarter worth about $240,000. 74.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on QCOM shares. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, UBS Group upped their price target on shares of QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. One research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Up 1.8 %

Shares of QUALCOMM stock opened at $157.18 on Friday. 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 12-month low of $149.43 and a 12-month high of $230.63. The firm has a market capitalization of $173.84 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.01 and a beta of 1.25. The firm’s 50 day simple moving average is $164.94 and its two-hundred day simple moving average is $165.64.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data 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%. Analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

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 $0.85 dividend. The ex-dividend date is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.16%. QUALCOMM’s payout ratio is currently 36.32%.

Insider Transactions at QUALCOMM

In related news, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the sale, the general counsel now owns 17,153 shares in the company, valued at approximately $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 46,708 shares of company stock worth $7,713,734 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

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.