Capital International Investors lessened its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 23.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,502,198 shares of the wireless technology company’s stock after selling 5,072,216 shares during the quarter. Capital International Investors owned about 1.44% of QUALCOMM worth $1,455,989,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in QCOM. Adell Harriman & Carpenter Inc. grew its position in shares of QUALCOMM by 1.9% during the 4th quarter. Adell Harriman & Carpenter Inc. now owns 61,514 shares of the wireless technology company’s stock valued at $5,427,000 after buying an additional 1,124 shares during the last quarter. CFM Wealth Partners LLC acquired a new stake in QUALCOMM in the fourth quarter valued at about $846,000. Sciencast Management LP lifted its position in shares of QUALCOMM by 82.8% during the 4th quarter. Sciencast Management LP now owns 12,610 shares of the wireless technology company’s stock valued at $1,125,000 after acquiring an additional 5,710 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in shares of QUALCOMM by 34.2% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 3,964 shares of the wireless technology company’s stock valued at $350,000 after acquiring an additional 1,010 shares during the period. Finally, Regal Investment Advisors LLC raised its position in shares of QUALCOMM by 5.6% during the 4th quarter. Regal Investment Advisors LLC now owns 2,907 shares of the wireless technology company’s stock worth $256,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 77.13% of the company’s stock.
Shares of NASDAQ:QCOM traded up $6.12 during midday trading on Thursday, reaching $69.20. 6,477,158 shares of the company’s stock were exchanged, compared to its average volume of 15,470,099. The company’s 50 day simple moving average is $79.56 and its two-hundred day simple moving average is $83.04. The firm has a market capitalization of $74.82 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. QUALCOMM, Inc. has a 12 month low of $55.78 and a 12 month high of $96.17. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.61 and a current ratio of 1.76.
QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.14. QUALCOMM had a net margin of 17.31% and a return on equity of 66.54%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the firm earned $1.20 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that QUALCOMM, Inc. will post 3.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 5th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.58%. The ex-dividend date is Wednesday, March 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 87.32%.
In related news, CFO Akash J. Palkhiwala sold 3,590 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $94.00, for a total value of $337,460.00. Following the completion of the sale, the chief financial officer now owns 15,428 shares in the company, valued at approximately $1,450,232. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 5,237 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $89.00, for a total value of $466,093.00. Following the completion of the sale, the chief financial officer now owns 19,018 shares of the company’s stock, valued at approximately $1,692,602. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,562 shares of company stock worth $873,650. Company insiders own 0.12% of the company’s stock.
QCOM has been the topic of a number of recent analyst reports. Cowen upped their target price on shares of QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Daiwa Capital Markets raised shares of QUALCOMM from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 11th. Piper Sandler began coverage on shares of QUALCOMM in a report on Wednesday, March 4th. They issued a “neutral” rating and a $80.00 price target for the company. BNP Paribas downgraded shares of QUALCOMM from an “outperform” rating to an “underperform” rating and set a $65.00 price target for the company. in a report on Tuesday. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Wednesday, January 15th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $91.33.
QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.
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