Monterey Private Wealth Inc. Cuts Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Monterey Private Wealth Inc. cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 7.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,304 shares of the wireless technology company’s stock after selling 106 shares during the quarter. Monterey Private Wealth Inc.’s holdings in QUALCOMM were worth $200,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in shares of QUALCOMM by 20.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,879 shares of the wireless technology company’s stock worth $1,370,000 after acquiring an additional 1,187 shares during the period. DRW Securities LLC grew its holdings in QUALCOMM by 108.3% in the second quarter. DRW Securities LLC now owns 7,942 shares of the wireless technology company’s stock valued at $1,581,000 after purchasing an additional 103,784 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of QUALCOMM by 75.5% in the second quarter. Public Sector Pension Investment Board now owns 43,177 shares of the wireless technology company’s stock valued at $8,600,000 after buying an additional 18,577 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of QUALCOMM during the 2nd quarter worth $2,983,000. Finally, Xponance Inc. boosted its position in shares of QUALCOMM by 2.5% in the 2nd quarter. Xponance Inc. now owns 283,479 shares of the wireless technology company’s stock worth $56,463,000 after buying an additional 6,889 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the sale, the insider now owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,882 shares of company stock worth $4,314,649. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Up 1.9 %

NASDAQ:QCOM opened at $164.56 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. The company has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.75 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $139.26 and a one year high of $230.63. The stock has a 50-day simple moving average of $158.78 and a 200 day simple moving average of $168.29.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. The firm had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.90 billion. QUALCOMM had a net margin of 26.03% and a return on equity of 38.81%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.12 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced 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. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 2nd. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Thursday, November 7th. JPMorgan Chase & Co. decreased their price objective on QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. KeyCorp downgraded shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their target price on shares of QUALCOMM from $170.00 to $175.00 and gave the stock an “underweight” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

QUALCOMM Company 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.