Prudential Financial Inc. Sells 37,688 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Prudential Financial Inc. lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,710,120 shares of the wireless technology company’s stock after selling 37,688 shares during the quarter. Prudential Financial Inc. owned 0.15% of QUALCOMM worth $262,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Minneapolis Portfolio Management Group LLC raised its position in shares of QUALCOMM by 0.7% in the fourth quarter. Minneapolis Portfolio Management Group LLC now owns 159,894 shares of the wireless technology company’s stock valued at $24,563,000 after buying an additional 1,108 shares in the last quarter. ICW Investment Advisors LLC increased its stake in QUALCOMM by 26.6% during the 4th quarter. ICW Investment Advisors LLC now owns 5,672 shares of the wireless technology company’s stock worth $871,000 after acquiring an additional 1,190 shares during the period. Syntax Research Inc. raised its holdings in QUALCOMM by 2.3% in the 4th quarter. Syntax Research Inc. now owns 4,792 shares of the wireless technology company’s stock valued at $736,000 after acquiring an additional 110 shares in the last quarter. Congress Wealth Management LLC DE lifted its position in shares of QUALCOMM by 20.6% during the 4th quarter. Congress Wealth Management LLC DE now owns 33,158 shares of the wireless technology company’s stock valued at $5,094,000 after acquiring an additional 5,670 shares during the period. Finally, Twin City Private Wealth LLC grew its holdings in shares of QUALCOMM by 1.4% during the 4th quarter. Twin City Private Wealth LLC now owns 4,909 shares of the wireless technology company’s stock worth $754,000 after purchasing an additional 67 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Barclays lowered their target price on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com cut shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Piper Sandler lowered their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Evercore ISI dropped their price objective on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

Insider Buying and Selling

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM 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 completion of the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM opened at $156.82 on Monday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The company has a market capitalization of $173.44 billion, a price-to-earnings ratio of 16.75, a P/E/G ratio of 2.01 and a beta of 1.28. The firm’s fifty day moving average price is $164.51 and its two-hundred day moving average price is $163.97.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a yield of 2.17%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.