TD Asset Management Inc. Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

TD Asset Management Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,084,382 shares of the wireless technology company’s stock after selling 147,697 shares during the quarter. TD Asset Management Inc.’s holdings in QUALCOMM were worth $320,203,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC bought a new stake in QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $29,000. CoreFirst Bank & Trust bought a new position in QUALCOMM during the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM during the 4th quarter worth approximately $38,000. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Price Performance

QCOM opened at $160.08 on Tuesday. The firm has a market cap of $177.05 billion, a PE ratio of 17.10, a P/E/G ratio of 2.01 and a beta of 1.28. The stock has a 50-day moving average price of $164.57 and a 200-day moving average price of $163.95. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Transactions at QUALCOMM

In other news, CAO Neil Martin sold 744 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This trade represents a 61.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total transaction of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 over the last quarter. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Evercore ISI dropped their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Melius initiated coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Piper Sandler cut their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Benchmark reaffirmed a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus 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.