Cigna Investments Inc. New Trims Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cigna Investments Inc. New decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the third quarter, HoldingsChannel.com reports. The firm owned 11,521 shares of the wireless technology company’s stock after selling 164 shares during the period. Cigna Investments Inc. New’s holdings in QUALCOMM were worth $1,959,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in QCOM. FORVIS Wealth Advisors LLC boosted its position in shares of QUALCOMM by 7.4% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 2,883 shares of the wireless technology company’s stock valued at $488,000 after acquiring an additional 199 shares during the last quarter. Leelyn Smith LLC bought a new stake in QUALCOMM during the first quarter valued at approximately $208,000. Avior Wealth Management LLC grew its stake in QUALCOMM by 20.9% in the 1st quarter. Avior Wealth Management LLC now owns 14,350 shares of the wireless technology company’s stock worth $2,430,000 after buying an additional 2,482 shares in the last quarter. Blue Trust Inc. raised its position in shares of QUALCOMM by 7.0% during the 1st quarter. Blue Trust Inc. now owns 7,706 shares of the wireless technology company’s stock valued at $1,305,000 after buying an additional 504 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of QUALCOMM by 2.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 434,673 shares of the wireless technology company’s stock worth $73,590,000 after acquiring an additional 10,849 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on QCOM shares. Piper Sandler reissued an “overweight” rating and issued a $205.00 target price (up previously from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Hsbc Global Res downgraded QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company increased their price target on shares of QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Finally, Susquehanna lowered their price objective on shares of QUALCOMM from $250.00 to $230.00 and set a “positive” rating for the company in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $207.92.

QUALCOMM Trading Down 2.9 %

Shares of QCOM stock opened at $162.77 on Friday. The firm has a fifty day moving average price of $168.94 and a 200-day moving average price of $181.93. The company has a market cap of $181.33 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 1.68 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $106.69 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, December 5th. QUALCOMM’s dividend payout ratio is currently 44.04%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now owns 32,231 shares in the company, valued at $5,355,180.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares of the company’s stock, valued at approximately $5,355,180.65. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total value of $1,358,400.00. Following the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,245 shares of company stock worth $2,395,407 over the last quarter. Insiders own 0.08% of the company’s stock.

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.