Securian Asset Management Inc. Sells 1,902 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Securian Asset Management Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,711 shares of the wireless technology company’s stock after selling 1,902 shares during the quarter. Securian Asset Management Inc.’s holdings in QUALCOMM were worth $9,173,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in QCOM. FDx Advisors Inc. raised its holdings in QUALCOMM by 80.6% in the third quarter. FDx Advisors Inc. now owns 2,016 shares of the wireless technology company’s stock worth $343,000 after purchasing an additional 900 shares in the last quarter. Keystone Financial Services raised its position in shares of QUALCOMM by 15.2% in the 3rd quarter. Keystone Financial Services now owns 2,153 shares of the wireless technology company’s stock worth $366,000 after purchasing an additional 284 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of QUALCOMM by 6.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 30,409 shares of the wireless technology company’s stock worth $5,171,000 after purchasing an additional 1,772 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of QUALCOMM in the 3rd quarter worth about $5,638,000. Finally, Waverton Investment Management Ltd raised its position in shares of QUALCOMM by 6.8% in the 3rd quarter. Waverton Investment Management Ltd now owns 1,446,533 shares of the wireless technology company’s stock worth $245,961,000 after purchasing an additional 91,873 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on QCOM. Susquehanna lowered their price target on QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Down 1.2 %

Shares of NASDAQ:QCOM opened at $153.10 on Wednesday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The stock has a market cap of $169.33 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $164.76 and a 200-day moving average price of $164.78.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results 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 return on equity of 39.51% and a net margin of 25.94%. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Buying and Selling

In other news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents 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 have sold 28,955 shares of company stock worth $4,847,350. 0.08% of the stock is owned by corporate insiders.

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.