Beacon Financial Group Cuts Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Beacon Financial Group lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,750 shares of the wireless technology company’s stock after selling 310 shares during the quarter. Beacon Financial Group’s holdings in QUALCOMM were worth $5,035,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Nordea Investment Management AB raised its stake in QUALCOMM by 39.7% during the fourth quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock valued at $284,708,000 after purchasing an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after buying an additional 4,955 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at about $2,058,000. Burney Co. grew its position in QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock worth $22,568,000 after acquiring an additional 127,722 shares in the last quarter. Finally, Icon Wealth Advisors LLC increased its stake in QUALCOMM by 123.2% during the third quarter. Icon Wealth Advisors LLC now owns 33,186 shares of the wireless technology company’s stock worth $5,643,000 after acquiring an additional 18,315 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on QCOM shares. Loop Capital started coverage on QUALCOMM in a report on Monday, November 11th. They issued a “hold” rating and a $180.00 target price for the company. Susquehanna dropped their price objective on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, November 20th. UBS Group increased their target price on shares of QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Evercore ISI dropped their price target on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. Finally, Mizuho cut their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $205.32.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $171.99 on Wednesday. The company’s 50 day moving average is $162.31 and its 200 day moving average is $165.53. The company has a quick ratio of 1.79, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market cap of $190.22 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 2.80 and a beta of 1.25. QUALCOMM Incorporated has a 52-week low of $148.41 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.19 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 1.98%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 1,304 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $155.00, for a total value of $202,120.00. Following the completion of the sale, the chief accounting officer now owns 94 shares of the company’s stock, valued at approximately $14,570. This trade represents a 93.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $161.54, for a total transaction of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares in the company, valued at approximately $7,879,598.12. This trade represents a 5.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,268 shares of company stock worth $7,276,381 in the last ninety days. 0.08% of the stock is owned by 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.