Te Ahumairangi Investment Management Ltd lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,901 shares of the wireless technology company's stock after selling 8,650 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in QUALCOMM were worth $4,440,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in QUALCOMM in the fourth quarter worth approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter worth $27,000. Centricity Wealth Management LLC purchased a new position in QUALCOMM during the fourth quarter valued at $29,000. CoreFirst Bank & Trust bought a new stake in QUALCOMM during the fourth quarter valued at about $33,000. Finally, Synergy Asset Management LLC purchased a new stake in QUALCOMM in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 74.35% of the company's stock.
QUALCOMM Trading Down 8.6 %
NASDAQ:QCOM traded down $11.96 during mid-day trading on Friday, hitting $127.46. 19,007,907 shares of the stock traded hands, compared to its average volume of 8,683,142. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $140.97 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52 week low of $126.68 and a 52 week high of $230.63. The firm's 50 day moving average is $161.74 and its two-hundred day moving average is $163.09.
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QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued 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%. On average, equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.
QUALCOMM Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, March 6th. QUALCOMM's dividend payout ratio is currently 36.32%.
Insider Transactions at QUALCOMM
In related news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares of the company's stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. Insiders own 0.08% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. StockNews.com cut QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Melius Research initiated coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target for the company. Barclays decreased their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Benchmark restated a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a research report on Friday, February 7th. Finally, Melius initiated coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $205.32.
Check Out Our Latest Stock Analysis on QUALCOMM
QUALCOMM Profile
(Free Report)
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.
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