Sei Investments Co. Reduces Stake in QUALCOMM Incorporated

Sei Investments Co. has reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.5% during the fourth quarter, as disclosed in their recent 13F filing with the Securities and Exchange Commission (SEC). After selling 120,549 shares, the fund now owns a total of 846,918 shares of the wireless technology company. As per the latest filing, Sei Investments Co.'s stake in QUALCOMM is valued at approximately $130,103,000, which represents 0.08% of the company's total shares.

Additionally, several other institutional investors have been making adjustments to their positions in QUALCOMM. For instance, Kohmann Bosshard Financial Services LLC acquired a new stake worth about $26,000 during the fourth quarter. CKW Financial Group and Centricity Wealth Management LLC also bought new stakes valued at approximately $27,000 and $29,000, respectively. Synergy Asset Management LLC and Legacy Investment Solutions LLC purchased new stakes valued at approximately $38,000 and $39,000 respectively. It's noteworthy that institutional investors collectively control 74.35% of QUALCOMM's stock.

Insider Trading Activities at QUALCOMM

In recent insider trading news, Neil Martin, the Chief Accounting Officer, sold 744 shares of QUALCOMM on February 21 at an average price of $174.83, totaling $130,073.52. This transaction reduced his ownership to 461 shares, worth about $80,596.63, marking a decrease of 61.74% in his position. Similarly, CFO Akash J. Palkhiwala sold 3,000 shares on February 12 for $169.80 each, amounting to $509,400.00. After this sale, the CFO now holds 63,115 shares valued at approximately $10,716,927, indicating a decrease of 4.54% in his holdings. In the last 90 days, insiders have sold 27,968 shares, translating to a value of $4,685,077. It is important to note that insiders hold just 0.08% of the stock.

QUALCOMM's Market Performance

On Friday, shares of QCOM opened at $156.82, with the company boasting a market capitalization of $173.44 billion. QUALCOMM has a PE ratio of 16.75 and a price-to-earnings-growth ratio of 2.01, along with a beta of 1.28. The stock's 50-day simple moving average stands at $164.51, while its 200-day average is $163.98. The current ratio is measured at 2.62, with a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. Over the past year, QUALCOMM's stock has seen a low of $149.43 and a high of $230.63.

QUALCOMM recently announced its quarterly earnings on February 5, reporting earnings per share (EPS) of $2.86. This result fell short of analysts' expectations of $2.93 by $0.07. The company recorded a net margin of 25.94% and a return on equity of 39.51%. Analysts anticipate that QUALCOMM will achieve EPS of 9.39 in the current fiscal year.

Dividend Declaration by QUALCOMM

The company has also declared a quarterly dividend of $0.85 per share, which will be paid on March 27 to shareholders recorded as of March 6. The annualized dividend amounts to $3.40, offering a yield of 2.17%. Currently, QUALCOMM's dividend payout ratio is at 36.32%.

Recent Analyst Ratings

QUALCOMM has attracted attention in recent research reports, with Piper Sandler lowering their target price from $205.00 to $190.00, maintaining an 'overweight' rating. Benchmark reaffirmed a 'buy' rating, setting a target price of $240.00, while Mizuho reduced their target from $245.00 to $215.00 and kept an 'outperform' rating. Melius Research initiated coverage with a 'hold' rating and a target price of $180.00. Also, Cantor Fitzgerald maintained a 'neutral' rating with a target of $160.00. Overall, 14 analysts have assigned a hold rating, while 15 recommend a buy, showing a consensus rating of 'Moderate Buy' with an average target price of $205.32.

About QUALCOMM

QUALCOMM Incorporated specializes in developing and commercializing essential technologies for the wireless industry globally. Its operations are segmented into Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT division focuses on developing and supplying integrated circuits and system software for various applications, including wireless communications, networking, and multimedia products.

Investments, Stock, QUALCOMM