Erste Asset Management GmbH Cuts Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Erste Asset Management GmbH lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,464 shares of the wireless technology company’s stock after selling 5,480 shares during the quarter. Erste Asset Management GmbH’s holdings in QUALCOMM were worth $13,178,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth approximately $26,000. CKW Financial Group purchased a new stake in QUALCOMM in the fourth quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the fourth quarter valued at $29,000. Planning Capital Management Corp lifted its position in shares of QUALCOMM by 137.3% during the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new position in shares of QUALCOMM during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 0.6 %

Shares of QUALCOMM stock opened at $151.94 on Friday. QUALCOMM Incorporated has a 1 year low of $149.43 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 company has a 50-day moving average of $164.70 and a 200 day moving average of $164.61. The firm has a market cap of $168.05 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.01 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly 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%. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 6th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM’s dividend payout ratio (DPR) is 36.32%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of QUALCOMM stock in a transaction on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This trade represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares in the company, valued at approximately $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,555 shares of company stock worth $5,094,134. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI lowered their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating on the stock in a research note on Thursday, February 6th. Mizuho cut their target price on QUALCOMM from $245.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research report on Friday, February 7th. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 price target for the company. Finally, Susquehanna dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $205.32.

About QUALCOMM

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.