QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Fmr LLC

Fmr LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 41.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,754,808 shares of the wireless technology company’s stock after selling 5,453,243 shares during the period. Fmr LLC owned approximately 0.70% of QUALCOMM worth $1,191,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Polymer Capital Management HK LTD lifted its position in QUALCOMM by 520.0% in the fourth quarter. Polymer Capital Management HK LTD now owns 9,300 shares of the wireless technology company’s stock worth $1,429,000 after purchasing an additional 7,800 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in QUALCOMM in the fourth quarter worth about $284,000. Federated Hermes Inc. raised its holdings in shares of QUALCOMM by 53.2% in the 4th quarter. Federated Hermes Inc. now owns 1,574,695 shares of the wireless technology company’s stock worth $241,905,000 after purchasing an additional 547,037 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of QUALCOMM by 12.4% during the 4th quarter. Quadrant Capital Group LLC now owns 11,321 shares of the wireless technology company’s stock valued at $1,739,000 after acquiring an additional 1,247 shares during the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co boosted its stake in shares of QUALCOMM by 47.8% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 170,000 shares of the wireless technology company’s stock worth $26,115,000 after acquiring an additional 55,000 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Trading Down 8.6 %

QUALCOMM stock opened at $127.46 on Monday. QUALCOMM Incorporated has a 12 month low of $123.11 and a 12 month high of $230.63. The stock has a market cap of $140.97 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The business has a 50 day moving average price of $161.74 and a two-hundred day moving average price of $163.05. 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 (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast 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. Stockholders of record on Thursday, March 6th were issued a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. QUALCOMM’s payout ratio is presently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares of the company’s stock, valued at approximately $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares of the company’s stock, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 in the last 90 days. 0.08% of the stock is owned by company insiders.

Analysts Set New Price Targets

QCOM has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Mizuho lowered their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 7th. Barclays reduced 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. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a “hold” rating and a $180.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

QUALCOMM Company 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.