Sei Investments Co. Reduces Stake in QUALCOMM Incorporated

During the 4th quarter, Sei Investments Co. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.5%, as detailed in their latest 13F filing with the Securities and Exchange Commission. After selling 120,549 shares, the fund now owns 846,918 shares of the leading wireless technology company. The value of Sei Investments' stake in QUALCOMM is estimated at $130,103,000, representing approximately 0.08% of the company.

Recent Changes by Other Institutional Investors

Other institutional investors have also adjusted their positions in QUALCOMM. For instance, Kohmann Bosshard Financial Services LLC acquired a new stake valued at about $26,000, while CKW Financial Group invested approximately $27,000 in the company. Centricity Wealth Management LLC bought in for roughly $29,000, and Synergy Asset Management LLC made a purchase worth around $38,000. Additionally, Legacy Investment Solutions LLC acquired a new stake valued at about $39,000 during the previous quarter. Currently, institutional investors hold 74.35% of QUALCOMM's stock.

Recent Insider Transactions

In recent insider news, CAO Neil Martin sold 744 shares of QUALCOMM stock on February 21st, bringing in approximately $130,073.52, with an average sale price of $174.83 per share. After this transaction, he retained 461 shares, valued at about $80,596.63, marking a 61.74% reduction in his position. Furthermore, CFO Akash J. Palkhiwala sold 3,000 shares on February 12th for a total of $509,400. After this sale, he now holds 63,115 shares worth roughly $10,716,927, reflecting a 4.54% decrease in his stake. Over the last three months, insiders have sold 27,968 shares for a total value of $4,685,077, with corporate insiders owning only 0.08% of the shares.

QUALCOMM Stock Overview

As of the most recent trading session, QUALCOMM's stock opened at $156.82. The company has a market capitalization of $173.44 billion, with a price-to-earnings (PE) ratio of 16.75. Its current ratios are healthy, with a current ratio of 2.62 and a quick ratio of 1.99. The beta value stands at 1.28, indicating some volatility. QUALCOMM has experienced a 12-month low of $149.43 and a high of $230.63.

On February 5th, QUALCOMM announced earnings for the quarter, reporting earnings per share (EPS) of $2.86, which was slightly below the analysts' consensus estimate of $2.93. The company enjoyed a net margin of 25.94% and a return on equity of 39.51%. Analysts anticipate QUALCOMM will deliver 9.39 EPS for the current fiscal year.

Dividend Announcement

QUALCOMM recently declared a quarterly dividend of $0.85 per share, payable on March 27th to shareholders recorded on March 6th. This brings the annualized dividend to $3.40, translating to a yield of 2.17%. The current dividend payout ratio is 36.32%.

Analyst Insights

Several analysts have recently updated their views on QUALCOMM. Piper Sandler reduced its target price from $205.00 to $190.00 while maintaining an “overweight” rating on the stock. Benchmark reiterated a “buy” rating with a $240.00 target price, while Mizuho lowered their target from $245.00 to $215.00, also giving it an “outperform” rating. Overall, one analyst rates it as a sell, fourteen as hold, fifteen as buy, and one as strong buy, giving QUALCOMM a consensus rating of “Moderate Buy” with an average target price of $205.32.

Company Overview

QUALCOMM Incorporated is a leading entity in the development and commercialization of core technologies for the wireless industry globally. It operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT division specializes in developing integrated circuits and system software supporting various dimensions of wireless communication.

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