Alliancebernstein L.P. Decreases Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Alliancebernstein L.P. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 22.6% during the 4th quarter, Holdings Channel reports. The firm owned 11,200,031 shares of the wireless technology company’s stock after selling 3,278,935 shares during the period. QUALCOMM makes up about 0.6% of Alliancebernstein L.P.’s investment portfolio, making the stock its 25th largest holding. Alliancebernstein L.P.’s holdings in QUALCOMM were worth $1,720,549,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the 4th quarter worth about $26,000. CKW Financial Group bought a new stake in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $29,000. CoreFirst Bank & Trust bought a new position in shares of QUALCOMM during the 4th quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC purchased a new stake in shares of QUALCOMM during the 4th quarter worth approximately $38,000. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Performance

QUALCOMM stock opened at $152.72 on Monday. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The firm’s fifty day moving average price is $164.16 and its 200-day moving average price is $163.82. The stock has a market cap of $168.91 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly 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%. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is currently 36.32%.

Analyst Ratings Changes

Several equities analysts recently commented on QCOM shares. Barclays dropped their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Evercore ISI dropped their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research report on Thursday, February 6th. Piper Sandler decreased their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, 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 for the company. One research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

Insiders Place Their Bets

In other news, insider Alexander H. Rogers sold 19,287 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by corporate insiders.

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.