Nikko Asset Management Americas Inc. Sells 129 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Nikko Asset Management Americas Inc. trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,661 shares of the wireless technology company’s stock after selling 129 shares during the period. Nikko Asset Management Americas Inc.’s holdings in QUALCOMM were worth $562,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in QUALCOMM in the fourth quarter worth about $26,000. CKW Financial Group acquired a new position in QUALCOMM in the fourth quarter worth about $27,000. Centricity Wealth Management LLC acquired a new position in QUALCOMM in the fourth quarter worth about $29,000. Synergy Asset Management LLC acquired a new position in QUALCOMM in the fourth quarter worth about $38,000. Finally, Legacy Investment Solutions LLC acquired a new position in QUALCOMM in the third quarter worth about $39,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the transaction, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Price Performance

Shares of QCOM stock opened at $157.95 on Tuesday. QUALCOMM Incorporated has a 52-week low of $149.43 and a 52-week high of $230.63. The stock has a market cap of $174.69 billion, a PE ratio of 16.88, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm’s 50 day moving average price is $164.64 and its two-hundred day moving average price is $164.32.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio is 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. Barclays dropped their price target on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Melius Research started coverage on shares of QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 price objective for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Piper Sandler dropped their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.32.

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.