Rheos Capital Works Inc. Sells 99,400 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Rheos Capital Works Inc. trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 39.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the wireless technology company’s stock after selling 99,400 shares during the quarter. QUALCOMM accounts for 1.3% of Rheos Capital Works Inc.’s holdings, making the stock its 25th largest holding. Rheos Capital Works Inc.’s holdings in QUALCOMM were worth $23,043,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Algert Global LLC acquired a new position in QUALCOMM during the 2nd quarter worth approximately $366,000. Czech National Bank increased its holdings in shares of QUALCOMM by 6.5% during the third quarter. Czech National Bank now owns 226,933 shares of the wireless technology company’s stock worth $38,590,000 after buying an additional 13,888 shares in the last quarter. HBW Advisory Services LLC lifted its stake in shares of QUALCOMM by 11.4% in the 3rd quarter. HBW Advisory Services LLC now owns 1,879 shares of the wireless technology company’s stock valued at $320,000 after acquiring an additional 192 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of QUALCOMM by 18.6% during the 3rd quarter. GAMMA Investing LLC now owns 16,307 shares of the wireless technology company’s stock valued at $2,773,000 after acquiring an additional 2,555 shares in the last quarter. Finally, Diversified Trust Co grew its position in QUALCOMM by 5.7% during the 3rd quarter. Diversified Trust Co now owns 50,282 shares of the wireless technology company’s stock worth $8,550,000 after acquiring an additional 2,707 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Alexander H. Rogers sold 10,373 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $160.59, for a total value of $1,665,800.07. Following the transaction, the insider now owns 33,383 shares in the company, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $161.54, for a total value of $484,620.00. Following the completion of the transaction, the chief financial officer now directly owns 48,778 shares of the company’s stock, valued at approximately $7,879,598.12. This represents a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,981 shares of company stock worth $4,000,870 over the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on QCOM. UBS Group lifted their price target on QUALCOMM from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Benchmark reissued a “buy” rating and set a $240.00 target price on shares of QUALCOMM in a report on Thursday, November 7th. JPMorgan Chase & Co. cut their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, October 16th. Finally, Loop Capital began coverage on QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.57.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $172.93 on Monday. The company has a market cap of $192.13 billion, a P/E ratio of 19.24, a PEG ratio of 2.87 and a beta of 1.25. The company has a fifty day simple moving average of $160.76 and a 200 day simple moving average of $166.19. The company has a current ratio of 2.40, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. QUALCOMM Incorporated has a 12-month low of $139.26 and a 12-month high of $230.63.

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 26.03% and a return on equity of 38.81%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Sell-side analysts predict that QUALCOMM Incorporated will post 9.16 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is presently 37.82%.

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.