QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,136 shares of the wireless technology company’s stock after selling 4,020 shares during the quarter. William Blair Investment Management LLC’s holdings in QUALCOMM were worth $6,795,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the 1st quarter valued at approximately $27,000. CarsonAllaria Wealth Management Ltd. raised its holdings in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. Richardson Capital Management LLC acquired a new position in QUALCOMM during the first quarter worth $37,000. DiNuzzo Private Wealth Inc. acquired a new position in QUALCOMM during the fourth quarter worth $32,000. Finally, Cherry Tree Wealth Management LLC raised its holdings in QUALCOMM by 95.0% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 236 shares of the wireless technology company’s stock worth $34,000 after purchasing an additional 115 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

QUALCOMM Stock Down 8.6 %

Shares of QCOM traded down $18.04 during midday trading on Wednesday, reaching $191.60. 15,872,100 shares of the company were exchanged, compared to its average volume of 9,180,571. The stock has a 50-day moving average price of $204.27 and a 200-day moving average price of $174.85. The company has a market cap of $213.83 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 2.53 and a beta of 1.27. QUALCOMM Incorporated has a 1-year low of $104.33 and a 1-year high of $230.63. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The company had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. Research analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.77%. QUALCOMM’s dividend payout ratio is presently 45.70%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. HSBC cut QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price objective for the company. in a report on Wednesday. Piper Sandler raised their price target on QUALCOMM from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. TD Cowen raised their price target on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Wells Fargo & Company raised their price target on QUALCOMM from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Thursday, May 2nd. Finally, Argus raised their price target on QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $197.54.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at $46,208,526. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares in the company, valued at approximately $12,407,124.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM 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.