Mirae Asset Global Investments Co. Ltd. Sells 22,012 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 869,157 shares of the wireless technology company’s stock after selling 22,012 shares during the quarter. QUALCOMM comprises approximately 0.6% of Mirae Asset Global Investments Co. Ltd.’s holdings, making the stock its 26th largest position. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of QUALCOMM worth $136,417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Paulson Wealth Management Inc. raised its position in QUALCOMM by 2.2% in the third quarter. Paulson Wealth Management Inc. now owns 2,791 shares of the wireless technology company’s stock worth $475,000 after purchasing an additional 61 shares in the last quarter. Blossom Wealth Management lifted its position in shares of QUALCOMM by 2.6% during the 3rd quarter. Blossom Wealth Management now owns 2,551 shares of the wireless technology company’s stock worth $434,000 after buying an additional 64 shares during the period. Delta Financial Advisors LLC boosted its stake in QUALCOMM by 2.1% in the 3rd quarter. Delta Financial Advisors LLC now owns 3,221 shares of the wireless technology company’s stock valued at $548,000 after buying an additional 65 shares in the last quarter. Toth Financial Advisory Corp grew its position in QUALCOMM by 3.1% in the fourth quarter. Toth Financial Advisory Corp now owns 2,190 shares of the wireless technology company’s stock valued at $336,000 after acquiring an additional 65 shares during the period. Finally, CFS Investment Advisory Services LLC lifted its holdings in shares of QUALCOMM by 1.1% during the fourth quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company’s stock valued at $929,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Stock Performance

Shares of QCOM opened at $173.04 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.40 and a quick ratio of 1.79. The firm has a 50-day moving average of $160.99 and a 200-day moving average of $166.04. The company has a market cap of $192.25 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. QUALCOMM Incorporated has a one year low of $141.21 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a return on equity of 38.81% and a net margin of 26.03%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.16 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 37.82%.

Insiders Place Their Bets

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $161.54, for a total value of $484,620.00. Following the transaction, the chief financial officer now owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the sale, the insider now directly owns 33,383 shares of the company’s stock, valued at approximately $5,360,975.97. The trade was a 23.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,981 shares of company stock valued at $4,000,870 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

QCOM has been the subject of a number of recent analyst reports. Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday, November 7th. UBS Group raised their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. KeyCorp cut QUALCOMM from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein lifted their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.57.

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.