TIAA Trust National Association Sells 5,694 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

TIAA Trust National Association decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,619 shares of the wireless technology company’s stock after selling 5,694 shares during the period. TIAA Trust National Association’s holdings in QUALCOMM were worth $7,623,000 at the end of the most recent reporting period.

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

Insider Activity at QUALCOMM

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Evercore ISI cut their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a report on Monday, December 9th. They issued a “hold” rating and a $180.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Barclays decreased their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Trading Up 0.0 %

NASDAQ:QCOM opened at $160.15 on Wednesday. The firm has a market capitalization of $177.13 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $149.43 and a 52 week high of $230.63. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $164.59 and a 200 day moving average of $163.96.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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%. On average, research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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

About QUALCOMM

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.