Haverford Trust Co Sells 48,544 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Haverford Trust Co trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 251,761 shares of the wireless technology company’s stock after selling 48,544 shares during the period. Haverford Trust Co’s holdings in QUALCOMM were worth $38,676,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at approximately $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,968 shares of company stock worth $4,685,077. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $156.82 on Monday. The firm’s 50 day simple moving average is $164.51 and its 200-day simple moving average is $163.97. QUALCOMM Incorporated has a 12 month low of $149.43 and a 12 month high of $230.63. The stock has a market capitalization of $173.44 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (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%. Analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on the stock. 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 report on Thursday, February 6th. Evercore ISI decreased their price target 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. Melius started coverage on shares of QUALCOMM in a research note on Monday, December 9th. They set a “hold” rating and a $180.00 price objective on the stock. Mizuho decreased their target price on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

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.