AlTi Global Inc. Sells 19,105 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AlTi Global Inc. lowered its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 57.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,045 shares of the wireless technology company's stock after selling 19,105 shares during the period. AlTi Global Inc.'s holdings in QUALCOMM were worth $2,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM in the fourth quarter worth $26,000. CKW Financial Group purchased a new position in shares of QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM during the fourth quarter valued at about $29,000. CoreFirst Bank & Trust purchased a new stake in shares of QUALCOMM during the fourth quarter worth about $33,000. Finally, Synergy Asset Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter worth about $38,000. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In related news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,599 shares of company stock valued at $5,733,290 in the last 90 days. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Mizuho dropped their price target on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $185.00 target price on shares of QUALCOMM in a research note on Tuesday, April 29th. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $192.58.

QUALCOMM Price Performance

NASDAQ:QCOM traded down $0.37 on Monday, reaching $139.44. 7,116,612 shares of the company's stock traded hands, compared to its average volume of 8,877,257. The firm has a market cap of $154.22 billion, a PE ratio of 14.90, a P/E/G 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 stock has a 50-day simple moving average of $147.28 and a 200-day simple moving average of $158.13. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm's revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 EPS. Equities research analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a $0.89 dividend. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Thursday, June 5th. QUALCOMM's payout ratio is currently 36.25%.

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.