Sei Investments Co. Reduces Stake in QUALCOMM Incorporated

Sei Investments Co. has reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 12.5% during the fourth quarter, as indicated in its latest 13F filing submitted to the Securities and Exchange Commission. Following this reduction, Sei Investments now holds 846,918 shares of the prominent wireless technology firm after selling off 120,549 shares during the quarter. The fund's stake represents approximately 0.08% of QUALCOMM, valued at around $130,103,000 based on their most recent SEC filing.

Institutional Investments and Changes

In addition to Sei Investments, several other institutional investors and hedge funds have also modified their positions in QUALCOMM. For instance, Kohmann Bosshard Financial Services LLC acquired a new stake in the company valued at approximately $26,000 during the fourth quarter. Similarly, CKW Financial Group and Centricity Wealth Management LLC purchased new stakes valued at about $27,000 and $29,000, respectively. Synergy Asset Management LLC and Legacy Investment Solutions LLC also made new investments, contributing approximately $38,000 and $39,000 during the same period. Notably, institutional investors hold about 74.35% of the total shares of QUALCOMM.

Insider Transactions

Additionally, there have been notable insider transactions within QUALCOMM. On February 21st, Chief Accounting Officer Neil Martin sold 744 shares at an average price of $174.83, totaling $130,073.52. After the sale, Martin's remaining shares number 461, valued at approximately $80,596.63, marking a 61.74% decrease in his ownership in the firm. Similarly, CFO Akash Palkhiwala sold 3,000 shares on February 12th for $509,400.00, reflecting a 4.54% decrease in his holdings. Over the last 90 days, insiders have sold a total of 27,968 shares, valued at $4,685,077.

QUALCOMM's Current Stock Performance

The stock of QUALCOMM opened at $156.82 on a recent Friday. With a market capitalization of $173.44 billion, the firm has a price-to-earnings (PE) ratio of 16.75, a price-to-earnings-growth (PEG) ratio of 2.01, and a beta of 1.28. The company’s 50-day and 200-day simple moving averages stand at $164.51 and $163.98, respectively. QUALCOMM has a current ratio of 2.62, a quick ratio of 1.99, and a debt-to-equity ratio of 0.49. Over the past year, its stock has seen a low of $149.43 and a high of $230.63.

Quarterly Earnings Results

QUALCOMM's most recent quarterly earnings, announced on February 5th, reported an earnings per share (EPS) of $2.86, which was below analysts' consensus estimate of $2.93 by $0.07. The company recorded a net margin of 25.94% and a return on equity of 39.51%. Analysts predict that QUALCOMM will achieve an EPS of 9.39 for the current fiscal year.

Dividend Announcement

Recently, QUALCOMM declared a quarterly dividend to be paid on Thursday, March 27th. Shareholders recorded as of March 6th will receive a dividend of $0.85 per share. This means an annualized dividend of $3.40, yielding 2.17%. Currently, the company has a dividend payout ratio of 36.32%.

Analyst Recommendations

QUALCOMM has been featured in various recent research reports. Piper Sandler adjusted their target price for QUALCOMM from $205.00 to $190.00, maintaining an "overweight" rating. Conversely, Benchmark reiterated a "buy" rating, setting a target price of $240.00. Other firms, such as Mizuho, have adjusted their target prices as well, leading to a mix of hold and buy ratings from analysts. Overall, there is a consensus rating of "Moderate Buy" for QUALCOMM with an average target price of $205.32.

About QUALCOMM

QUALCOMM Incorporated is a leading player in technology development and commercialization within the wireless industry globally. It operates through three main segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment focuses on the development and supply of integrated circuits and software for various wireless communication technologies, including 3G, 4G, and 5G.

Investment, Stocks, QUALCOMM