Sei Investments Co. Sells 120,549 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Sei Investments Co. cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 846,918 shares of the wireless technology company’s stock after selling 120,549 shares during the quarter. Sei Investments Co. owned 0.08% of QUALCOMM worth $130,103,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $29,000. Synergy Asset Management LLC bought a new stake in shares of QUALCOMM during the 4th quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC bought a new stake in shares of QUALCOMM during the 3rd quarter valued at approximately $39,000. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $156.82 on Friday. The firm has a market capitalization of $173.44 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The firm has a fifty day simple moving average of $164.51 and a two-hundred day simple moving average of $163.98. 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.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Piper Sandler cut their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Friday, February 7th. Mizuho cut their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM 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.