Ensign Peak Advisors Inc Reduces Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Ensign Peak Advisors Inc reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 16.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 632,899 shares of the wireless technology company’s stock after selling 122,727 shares during the quarter. Ensign Peak Advisors Inc’s holdings in QUALCOMM were worth $97,226,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in QUALCOMM in the 4th quarter worth about $26,000. Banque Transatlantique SA bought a new stake in shares of QUALCOMM during the fourth quarter valued at approximately $26,000. CKW Financial Group purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the 4th quarter worth $29,000. Finally, CoreFirst Bank & Trust bought a new stake in QUALCOMM during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company cut their price target on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating on the stock in a research note on Thursday, May 1st. Susquehanna reduced their price target on shares of QUALCOMM from $210.00 to $190.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reiterated a “buy” rating and set a $225.00 price objective on shares of QUALCOMM in a research note on Thursday, May 1st. Loop Capital reduced their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $185.00 target price on shares of QUALCOMM in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $192.08.

QUALCOMM Trading Up 0.1 %

QUALCOMM stock opened at $145.30 on Friday. The stock has a 50-day moving average price of $146.38 and a 200 day moving average price of $157.55. The company has a market capitalization of $159.54 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $230.63. 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 released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. During the same period in the prior year, the firm earned $2.44 EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Thursday, June 5th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is 36.25%.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the sale, the chief financial officer now owns 53,112 shares in the company, valued at approximately $7,423,464.24. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Heather S. Ace sold 1,600 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now owns 22,793 shares in the company, valued at approximately $3,139,507.82. This represents a 6.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,599 shares of company stock valued at $5,733,290 over the last ninety days. Company insiders own 0.08% of the company’s stock.

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.