MJP Associates Inc. ADV Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

MJP Associates Inc. ADV decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,728 shares of the wireless technology company’s stock after selling 88 shares during the period. MJP Associates Inc. ADV’s holdings in QUALCOMM were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fairfield Bush & CO. grew its holdings in QUALCOMM by 1.3% during the 1st quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after buying an additional 390 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of QUALCOMM by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after buying an additional 245,335 shares during the period. Merit Financial Group LLC increased its holdings in shares of QUALCOMM by 25.2% during the 1st quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after buying an additional 555 shares during the last quarter. NewEdge Advisors LLC increased its stake in QUALCOMM by 23.8% during the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after acquiring an additional 8,472 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of QUALCOMM by 30.4% during the 1st quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after purchasing an additional 79,827 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Citigroup lowered shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. TD Cowen boosted their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Mizuho boosted their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Barclays upped their target price on shares of QUALCOMM from $140.00 to $155.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, JPMorgan Chase & Co. cut their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.71.

Insider Buying and Selling

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at $103,232.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the transaction, the insider now directly owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,360 shares of company stock valued at $5,457,048. Corporate insiders own 0.08% of the company’s stock.

QUALCOMM Trading Up 0.1 %

Shares of NASDAQ QCOM traded up $0.17 during mid-day trading on Thursday, hitting $169.30. 5,152,095 shares of the company traded hands, compared to its average volume of 8,960,309. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The stock has a market capitalization of $188.94 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.28 and a beta of 1.41. The business has a 50 day moving average of $157.64 and a two-hundred day moving average of $135.88.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, sell-side analysts anticipate that QUALCOMM Incorporated will post 7.67 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 21st. Stockholders of record on Thursday, February 29th were issued a dividend of $0.80 per share. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is 46.38%.

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.