SevenBridge Financial Group LLC Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

SevenBridge Financial Group LLC cut its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,609 shares of the wireless technology company’s stock after selling 99 shares during the quarter. SevenBridge Financial Group LLC’s holdings in QUALCOMM were worth $1,534,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. State Street Corp raised its holdings in shares of QUALCOMM by 1.1% during the second quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock valued at $5,837,985,000 after purchasing an additional 549,861 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of QUALCOMM by 117,461.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares during the last quarter. Morgan Stanley raised its holdings in shares of QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of QUALCOMM by 7.0% during the second quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock valued at $2,147,831,000 after purchasing an additional 1,178,546 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QCOM stock opened at $171.72 on Tuesday. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $158.85 and a two-hundred day simple moving average of $137.27. The firm has a market capitalization of $191.64 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 2.31 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. Analysts anticipate that QUALCOMM Incorporated will post 7.67 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Neil Martin sold 689 shares of QUALCOMM stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $160.64, for a total value of $110,680.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total transaction of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,360 shares of company stock valued at $5,457,048. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QCOM. Rosenblatt Securities boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 7th. Cantor Fitzgerald restated a “neutral” rating and set a $150.00 target price on shares of QUALCOMM in a research report on Monday, March 4th. Morgan Stanley lowered shares of QUALCOMM from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $119.00 to $132.00 in a research report on Friday, December 8th. Finally, KeyCorp boosted their target price on shares of QUALCOMM from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.71.

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.