TIAA Trust National Association Sells 5,694 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

TIAA Trust National Association lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,619 shares of the wireless technology company’s stock after selling 5,694 shares during the period. TIAA Trust National Association’s holdings in QUALCOMM were worth $7,623,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. FineMark National Bank & Trust grew its position in QUALCOMM by 17.3% during the 4th quarter. FineMark National Bank & Trust now owns 93,383 shares of the wireless technology company’s stock valued at $14,345,000 after purchasing an additional 13,757 shares during the last quarter. Ashton Thomas Securities LLC grew its holdings in shares of QUALCOMM by 4.6% during the fourth quarter. Ashton Thomas Securities LLC now owns 4,828 shares of the wireless technology company’s stock valued at $736,000 after buying an additional 212 shares during the last quarter. Modern Wealth Management LLC increased its position in shares of QUALCOMM by 4.8% during the fourth quarter. Modern Wealth Management LLC now owns 10,201 shares of the wireless technology company’s stock valued at $1,567,000 after acquiring an additional 471 shares in the last quarter. EntryPoint Capital LLC purchased a new position in QUALCOMM in the 4th quarter worth approximately $330,000. Finally, Taikang Asset Management Hong Kong Co Ltd lifted its position in QUALCOMM by 99.1% in the 4th quarter. Taikang Asset Management Hong Kong Co Ltd now owns 44,800 shares of the wireless technology company’s stock valued at $6,882,000 after acquiring an additional 22,300 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 of the company’s stock, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM opened at $160.15 on Wednesday. The firm’s fifty day moving average is $164.59 and its two-hundred day moving average is $163.96. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The company has a market cap of $177.13 billion, a P/E ratio of 17.11, a P/E/G ratio of 2.01 and a beta of 1.28. 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 announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing analysts’ consensus estimates 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 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Wall Street Analyst Weigh In

QCOM has been the subject of several recent analyst reports. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. Evercore ISI lowered their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Piper Sandler reduced their price target on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $160.00 target price on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Benchmark reiterated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.32.

About QUALCOMM

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.