Kovitz Investment Group Partners LLC Lowers Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Kovitz Investment Group Partners LLC reduced its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 26.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,026 shares of the wireless technology company’s stock after selling 82,004 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in QUALCOMM were worth $34,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of QCOM. Keyvantage Wealth LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $233,000. Stonebridge Capital Advisors LLC raised its holdings in shares of QUALCOMM by 2.2% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 129,269 shares of the wireless technology company’s stock valued at $19,858,000 after purchasing an additional 2,764 shares in the last quarter. Hancock Whitney Corp lifted its position in shares of QUALCOMM by 2.9% in the 4th quarter. Hancock Whitney Corp now owns 31,856 shares of the wireless technology company’s stock worth $4,894,000 after purchasing an additional 891 shares during the period. Empire Financial Management Company LLC lifted its position in shares of QUALCOMM by 32.0% in the 4th quarter. Empire Financial Management Company LLC now owns 12,738 shares of the wireless technology company’s stock worth $1,957,000 after purchasing an additional 3,090 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of QUALCOMM by 0.4% during the fourth quarter. Integrated Wealth Concepts LLC now owns 215,859 shares of the wireless technology company’s stock valued at $33,160,000 after purchasing an additional 775 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total value of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. The trade was a 4.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,666 shares of company stock worth $5,047,052 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

Analyst Ratings Changes

QCOM has been the subject of a number of analyst reports. Piper Sandler lowered their target price on 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 objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research note on Thursday, February 6th. TD Cowen dropped their price objective on QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Mizuho lowered their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM presently has a consensus rating of “Hold” and a consensus target price of $201.21.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $147.21 on Friday. 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 firm’s 50 day simple moving average is $150.61 and its 200-day simple moving average is $159.63. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The stock has a market capitalization of $162.81 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.42%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

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.