Blue Barn Wealth LLC Reduces Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Blue Barn Wealth LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,056 shares of the wireless technology company’s stock after selling 65 shares during the quarter. Blue Barn Wealth LLC’s holdings in QUALCOMM were worth $623,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of QUALCOMM in the fourth quarter valued at $527,053,000. Pacer Advisors Inc. grew its holdings in QUALCOMM by 1,702.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,191,342 shares of the wireless technology company’s stock valued at $542,688,000 after purchasing an additional 3,014,302 shares during the last quarter. Geode Capital Management LLC raised its position in QUALCOMM by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock worth $4,600,625,000 after purchasing an additional 1,989,725 shares during the period. Two Sigma Advisers LP lifted its stake in QUALCOMM by 202.6% in the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock worth $350,626,000 after purchasing an additional 1,380,500 shares during the last quarter. Finally, State Street Corp grew its stake in shares of QUALCOMM by 1.7% during the third quarter. State Street Corp now owns 51,615,929 shares of the wireless technology company’s stock valued at $8,777,289,000 after buying an additional 870,814 shares during the last quarter. 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 QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the transaction, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Ann C. Chaplin sold 7,717 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,239,273.03. Following the completion of the transaction, the general counsel now owns 17,153 shares in the company, valued at $2,754,600.27. The trade was a 31.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,045 shares of company stock valued at $7,752,423. 0.08% of the stock is currently owned by insiders.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $158.49 on Thursday. The firm’s 50 day simple moving average is $164.73 and its 200-day simple moving average is $165.29. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month 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 stock has a market capitalization of $175.29 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.01 and a beta of 1.25.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

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 2.15%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is currently 36.32%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on QCOM shares. Benchmark reissued a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. UBS Group lifted their target price on QUALCOMM from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Susquehanna cut their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, November 20th. Sanford C. Bernstein lifted their price objective on shares of QUALCOMM from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Melius assumed coverage on shares of QUALCOMM in a research note on Monday, December 9th. They issued a “hold” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.