Capital International Investors Sells 38,175 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Capital International Investors lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,728,054 shares of the wireless technology company’s stock after selling 38,175 shares during the quarter. Capital International Investors owned 0.24% of QUALCOMM worth $461,860,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after purchasing an additional 1,909,025 shares during the period. Norges Bank acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $2,507,978,000. Putnam Investments LLC increased its holdings in shares of QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of QUALCOMM by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company’s stock valued at $913,752,000 after purchasing an additional 259,403 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Up 2.7 %

QUALCOMM stock traded up $4.66 on Friday, hitting $180.05. 6,566,243 shares of the stock traded hands, compared to its average volume of 9,185,715. The business’s fifty day simple moving average is $204.19 and its 200 day simple moving average is $177.00. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm has a market cap of $200.94 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 2.20 and a beta of 1.27. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 7.84 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.85 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Activity

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares in the company, valued at $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays lifted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Evercore ISI assumed coverage on QUALCOMM in a research report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price on the stock. HSBC lowered QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target on the stock. in a research note on Wednesday, July 17th. Finally, Citigroup upped their target price on QUALCOMM from $170.00 to $200.00 and gave the company a “neutral” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.63.

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.