FMR LLC trimmed its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,754,808 shares of the wireless technology company's stock after selling 5,453,243 shares during the quarter. FMR LLC owned 0.70% of QUALCOMM worth $1,191,294,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Nordea Investment Management AB lifted its stake in QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company's stock worth $284,708,000 after acquiring an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock worth $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth about $2,058,000. Burney Co. boosted its stake in shares of QUALCOMM by 665.6% in the fourth quarter. Burney Co. now owns 146,911 shares of the wireless technology company's stock valued at $22,568,000 after purchasing an additional 127,722 shares during the period. Finally, Howard Bailey Securities LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $240,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Buying and Selling
In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $169.80, for a total value of $509,400.00. Following the completion of the transaction, the chief financial officer now owns 63,115 shares of the company's stock, valued at approximately $10,716,927. The trade was a 4.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Neil Martin sold 744 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $174.83, for a total transaction of $130,073.52. Following the sale, the chief accounting officer now directly owns 461 shares in the company, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,018 shares of company stock worth $4,955,613 in the last ninety days. Insiders own 0.08% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Evercore ISI decreased their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a research report on Thursday, February 6th. TD Cowen lowered their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research note on Wednesday. Piper Sandler lowered their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price objective on shares of QUALCOMM in a report on Thursday, February 6th. Finally, Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $202.64.
Check Out Our Latest Stock Analysis on QUALCOMM
QUALCOMM Price Performance
NASDAQ QCOM traded down $9.61 during mid-day trading on Thursday, hitting $133.98. The stock had a trading volume of 5,671,276 shares, compared to its average volume of 8,813,594. The company has a 50 day simple moving average of $157.89 and a 200 day simple moving average of $161.88. 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 company has a market cap of $148.18 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. Equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.
QUALCOMM Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.54%. QUALCOMM's dividend payout ratio is presently 36.32%.
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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