Williams Jones Wealth Management LLC. Reduces Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Williams Jones Wealth Management LLC. decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,833 shares of the wireless technology company’s stock after selling 3,904 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in QUALCOMM were worth $1,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Woodline Partners LP purchased a new stake in QUALCOMM in the fourth quarter worth $7,234,000. Sovereign s Capital Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $3,089,000. Sphera Management Technology Funds Ltd purchased a new position in QUALCOMM during the fourth quarter valued at $2,117,000. Spurstone Advisory Services LLC purchased a new position in QUALCOMM during the fourth quarter valued at $47,000. Finally, Visionary Wealth Advisors lifted its position in QUALCOMM by 0.9% during the fourth quarter. Visionary Wealth Advisors now owns 53,667 shares of the wireless technology company’s stock valued at $8,244,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on QCOM shares. Citigroup lowered their price objective on QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research report on Thursday, May 1st. Piper Sandler lowered their price objective on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Loop Capital lowered their price objective on QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $185.00 price objective on shares of QUALCOMM in a research report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $192.08.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now owns 24,393 shares of the company’s stock, valued at approximately $3,762,376.32. This represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock worth $1,948,379 in the last three months. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

NASDAQ QCOM opened at $153.82 on Wednesday. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The stock has a 50-day moving average of $145.99 and a 200 day moving average of $156.70. The company has a market capitalization of $168.89 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 2.01 and a beta of 1.29. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same period last year, the company earned $2.44 EPS. QUALCOMM’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

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.