AIA Group Ltd Sells 3,161 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AIA Group Ltd decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 13.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,880 shares of the wireless technology company’s stock after selling 3,161 shares during the period. AIA Group Ltd’s holdings in QUALCOMM were worth $3,381,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Leelyn Smith LLC bought a new position in shares of QUALCOMM in the first quarter valued at about $208,000. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of QUALCOMM by 3.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,297 shares of the wireless technology company’s stock worth $10,208,000 after acquiring an additional 2,018 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of QUALCOMM by 3.2% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,405 shares of the wireless technology company’s stock valued at $2,100,000 after purchasing an additional 384 shares during the last quarter. PFG Advisors increased its stake in shares of QUALCOMM by 6.9% during the first quarter. PFG Advisors now owns 3,453 shares of the wireless technology company’s stock worth $585,000 after purchasing an additional 223 shares during the period. Finally, Zevenbergen Capital Investments LLC lifted its holdings in QUALCOMM by 289.9% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 92,602 shares of the wireless technology company’s stock worth $15,678,000 after purchasing an additional 68,850 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QCOM has been the topic of a number of research reports. UBS Group upped their price objective on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $160.00 price target on shares of QUALCOMM in a research report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $205.00 price objective (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. Benchmark restated a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a research report on Thursday. Finally, Rosenblatt Securities lifted their price target on shares of QUALCOMM from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $212.16.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Ann C. Chaplin sold 1,901 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now owns 12,007 shares in the company, valued at $1,981,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the sale, the chief technology officer now directly owns 213,364 shares in the company, valued at $36,229,207.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,146 shares of company stock valued at $2,709,186 in the last three months. Insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $172.91 on Friday. The stock has a 50-day moving average price of $168.55 and a two-hundred day moving average price of $182.14. QUALCOMM Incorporated has a 12 month low of $119.15 and a 12 month high of $230.63. The company has a market capitalization of $192.62 billion, a PE ratio of 22.40, a P/E/G ratio of 1.66 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, November 6th. The wireless technology company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.25. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.90 billion. Analysts expect that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.85 dividend. The ex-dividend date is Thursday, December 5th. This represents a $3.40 dividend on an annualized basis and a yield of 1.97%. QUALCOMM’s payout ratio is 44.04%.

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.