QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Reduced by Cullen Capital Management LLC

Cullen Capital Management LLC trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 440,847 shares of the wireless technology company’s stock after selling 50,665 shares during the quarter. Cullen Capital Management LLC’s holdings in QUALCOMM were worth $67,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of QUALCOMM during the fourth quarter worth $2,721,882,000. Amundi raised its stake in QUALCOMM by 36.6% during the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after acquiring an additional 3,905,918 shares during the period. Raymond James Financial Inc. bought a new position in QUALCOMM in the fourth quarter worth about $527,053,000. Geode Capital Management LLC boosted its stake in QUALCOMM by 7.9% in the third quarter. Geode Capital Management LLC now owns 27,128,468 shares of the wireless technology company’s stock valued at $4,600,625,000 after acquiring an additional 1,989,725 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in shares of QUALCOMM by 202.6% during the third quarter. Two Sigma Advisers LP now owns 2,061,900 shares of the wireless technology company’s stock valued at $350,626,000 after purchasing an additional 1,380,500 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 QUALCOMM stock opened at $127.46 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $126.68 and a 12-month high of $230.63. The firm has a market capitalization of $140.97 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The stock’s fifty day moving average is $161.74 and its 200-day moving average is $163.13.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 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%. Equities analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.67%. The ex-dividend date was Thursday, March 6th. QUALCOMM’s payout ratio is 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction dated 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 owns 20,762 shares of the company’s stock, valued at $3,526,010.46. The trade was a 48.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now directly owns 63,115 shares of the company’s stock, valued at $10,716,927. This trade represents a 4.54 % 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 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QCOM. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. Benchmark reaffirmed a “buy” rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Finally, StockNews.com lowered shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

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.