Clear Harbor Asset Management LLC Sells 343 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Clear Harbor Asset Management LLC cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,673 shares of the wireless technology company’s stock after selling 343 shares during the period. Clear Harbor Asset Management LLC’s holdings in QUALCOMM were worth $1,688,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of QCOM. Fairfield Bush & CO. grew its holdings in shares of QUALCOMM by 1.3% in the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after acquiring an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in QUALCOMM by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after purchasing an additional 245,335 shares during the period. Merit Financial Group LLC grew its holdings in QUALCOMM by 25.2% during the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock valued at $422,000 after purchasing an additional 555 shares during the period. NewEdge Advisors LLC grew its holdings in QUALCOMM by 23.8% during the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock valued at $6,745,000 after purchasing an additional 8,472 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in QUALCOMM by 30.4% during the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock valued at $52,378,000 after purchasing an additional 79,827 shares during the period. 74.35% of the stock is owned by institutional investors.

QUALCOMM Price Performance

NASDAQ QCOM traded up $0.17 during trading hours on Thursday, reaching $169.30. 5,323,053 shares of the stock traded hands, compared to its average volume of 9,007,399. The stock has a 50 day simple moving average of $157.64 and a two-hundred day simple moving average of $135.88. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.56 and a quick ratio of 1.88. The company has a market cap of $188.94 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 2.28 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts predict that QUALCOMM Incorporated will post 7.67 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, February 29th were issued a $0.80 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $3.20 annualized dividend and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 46.38%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on QCOM shares. JPMorgan Chase & Co. reduced their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. Morgan Stanley lowered QUALCOMM from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $119.00 to $132.00 in a report on Friday, December 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $150.00 price target on shares of QUALCOMM in a report on Monday, March 4th. Mizuho raised their price target on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM has an average rating of “Moderate Buy” and an average price target of $148.71.

Insider Transactions at QUALCOMM

In other news, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the transaction, the insider now owns 4,972 shares in the company, valued at $691,108. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $149.50, for a total value of $1,210,950.00. Following the sale, the chief executive officer now directly owns 32,400 shares of the company’s stock, valued at $4,843,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James J. Cathey sold 1,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $139.00, for a total value of $139,000.00. Following the completion of the sale, the insider now directly owns 4,972 shares in the company, valued at $691,108. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,360 shares of company stock worth $5,457,048. Company insiders own 0.08% of the company’s stock.

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.