Banque Pictet & Cie SA Takes Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Banque Pictet & Cie SA acquired a new stake in QUALCOMM Incorporated (NASDAQ:QCOM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 32,131 shares of the wireless technology company’s stock, valued at approximately $4,936,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Paulson Wealth Management Inc. lifted its holdings in QUALCOMM by 2.2% during the 3rd quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after buying an additional 61 shares during the last quarter. Blossom Wealth Management lifted its holdings in QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares during the last quarter. Delta Financial Advisors LLC lifted its holdings in QUALCOMM by 2.1% during the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock worth $548,000 after buying an additional 65 shares during the last quarter. CFS Investment Advisory Services LLC lifted its holdings in QUALCOMM by 1.1% during the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock worth $929,000 after buying an additional 65 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its holdings in QUALCOMM by 3.1% during the 4th quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock worth $336,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on QCOM shares. Mizuho reduced their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Loop Capital began coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 price target on the stock. Finally, Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.32.

Insider Buying and Selling

In other news, General Counsel Ann C. Chaplin sold 7,717 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,239,273.03. Following the completion of the sale, the general counsel now owns 17,153 shares of the company’s stock, valued at $2,754,600.27. This trade represents a 31.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Neil Martin sold 1,304 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $155.00, for a total value of $202,120.00. Following the transaction, the chief accounting officer now directly owns 94 shares in the company, valued at $14,570. The trade was a 93.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,268 shares of company stock worth $7,785,781 in the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Up 0.0 %

Shares of QCOM stock opened at $172.23 on Friday. QUALCOMM Incorporated has a 1 year low of $148.90 and a 1 year high of $230.63. The stock has a market cap of $190.49 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.80 and a beta of 1.25. The business’s fifty day moving average is $162.87 and its 200-day moving average is $165.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.79 and a current ratio of 2.62.

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 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%. Equities analysts expect that QUALCOMM Incorporated will post 9.19 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 1.97%. 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.