QUALCOMM Incorporated $QCOM Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,095 shares of the wireless technology company’s stock after selling 715 shares during the quarter. Heritage Investors Management Corp’s holdings in QUALCOMM were worth $3,997,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Guinness Asset Management LTD boosted its holdings in QUALCOMM by 11.6% in the second quarter. Guinness Asset Management LTD now owns 55,410 shares of the wireless technology company’s stock worth $8,824,000 after purchasing an additional 5,779 shares during the period. CORDA Investment Management LLC. boosted its holdings in QUALCOMM by 18.6% in the second quarter. CORDA Investment Management LLC. now owns 22,474 shares of the wireless technology company’s stock worth $3,579,000 after purchasing an additional 3,524 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in QUALCOMM by 565.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company’s stock worth $19,098,000 after purchasing an additional 105,631 shares during the period. PFG Advisors boosted its holdings in QUALCOMM by 8.0% in the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company’s stock worth $663,000 after purchasing an additional 321 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in QUALCOMM by 12.3% in the first quarter. Russell Investments Group Ltd. now owns 1,328,759 shares of the wireless technology company’s stock worth $203,904,000 after purchasing an additional 145,509 shares during the period. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

Shares of NASDAQ QCOM opened at $178.67 on Thursday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $205.95. The firm’s 50-day simple moving average is $164.93 and its 200 day simple moving average is $156.11. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $192.78 billion, a P/E ratio of 17.23, a P/E/G ratio of 2.63 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business had revenue of $10.37 billion for the quarter, compared to analysts’ expectations of $10.33 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The company’s revenue was up 10.4% on a year-over-year basis. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $0.89 dividend. The ex-dividend date is Thursday, December 4th. This represents a $3.56 annualized dividend and a yield of 2.0%. QUALCOMM’s payout ratio is 34.33%.

Insider Transactions at QUALCOMM

In other QUALCOMM news, CEO Cristiano R. Amon sold 150,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $165.56, for a total value of $24,834,000.00. Following the sale, the chief executive officer directly owned 149,304 shares in the company, valued at approximately $24,718,770.24. The trade was a 50.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 791 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $154.82, for a total transaction of $122,462.62. Following the completion of the sale, the chief accounting officer owned 1,106 shares in the company, valued at approximately $171,230.92. This trade represents a 41.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 168,102 shares of company stock valued at $27,706,855 in the last quarter. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on QCOM shares. Wall Street Zen downgraded shares of QUALCOMM from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Weiss Ratings raised shares of QUALCOMM from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday, October 25th. Citigroup boosted their price target on shares of QUALCOMM from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of QUALCOMM from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, July 28th. Finally, UBS Group set a $165.00 price target on shares of QUALCOMM in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.95.

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.