River Global Investors LLP Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

River Global Investors LLP lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,989 shares of the wireless technology company’s stock after selling 878 shares during the period. River Global Investors LLP’s holdings in QUALCOMM were worth $2,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in QCOM. Peoples Bank OH acquired a new stake in QUALCOMM during the 4th quarter worth $219,000. HF Advisory Group LLC acquired a new position in QUALCOMM in the third quarter valued at $629,000. Bank Hapoalim BM increased its position in QUALCOMM by 35.0% in the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after acquiring an additional 9,192 shares during the period. NewEdge Wealth LLC raised its stake in shares of QUALCOMM by 120.2% during the fourth quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares during the last quarter. Finally, 1834 Investment Advisors Co. boosted its holdings in shares of QUALCOMM by 6.6% in the fourth quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock valued at $6,591,000 after acquiring an additional 2,818 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 0.3 %

QCOM traded down $0.46 on Friday, reaching $179.64. 10,043,912 shares of the company’s stock were exchanged, compared to its average volume of 8,171,053. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.88 and a current ratio of 2.65. QUALCOMM Incorporated has a twelve month low of $101.47 and a twelve month high of $183.19. The company’s 50 day moving average is $167.69 and its 200-day moving average is $146.59. The company has a market cap of $200.48 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.47 and a beta of 1.33.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The firm had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. Equities analysts predict that QUALCOMM Incorporated will post 7.64 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.89%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is 43.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group raised their target price on QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday. Bank of America boosted their price target on QUALCOMM from $173.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday. TD Cowen boosted their target price on shares of QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. StockNews.com upgraded shares of QUALCOMM from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $190.00 target price on shares of QUALCOMM in a research report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,260 shares of company stock worth $7,429,728. 0.08% of the stock is currently owned by company insiders.

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.