QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Sepio Capital LP

Sepio Capital LP cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 17,478 shares of the wireless technology company’s stock after selling 2,110 shares during the period. Sepio Capital LP’s holdings in QUALCOMM were worth $2,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after buying an additional 707,468 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of QUALCOMM by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM in the fourth quarter worth approximately $2,721,882,000. Amundi increased its position in shares of 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 purchasing an additional 3,905,918 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in QUALCOMM by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock valued at $1,485,575,000 after purchasing an additional 193,236 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Neil Martin sold 744 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares in the company, valued at approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock worth $4,685,077 in the last quarter. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on QCOM. Piper Sandler dropped their target price 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. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Benchmark restated a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Mizuho reduced their price objective on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. One 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Stock Down 8.6 %

Shares of NASDAQ:QCOM opened at $127.46 on Friday. 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. QUALCOMM Incorporated has a 1 year low of $126.68 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The firm’s 50-day moving average is $161.74 and its two-hundred day moving average is $163.09.

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

QUALCOMM Dividend Announcement

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

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.