Banco Santander S.A. Sells 348,438 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Banco Santander S.A. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOMGet Rating) by 77.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,275 shares of the wireless technology company’s stock after selling 348,438 shares during the quarter. Banco Santander S.A.’s holdings in QUALCOMM were worth $15,630,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of QCOM. ICICI Prudential Asset Management Co Ltd increased its position in shares of QUALCOMM by 17.2% during the first quarter. ICICI Prudential Asset Management Co Ltd now owns 3,240 shares of the wireless technology company’s stock valued at $495,000 after acquiring an additional 476 shares during the last quarter. MONECO Advisors LLC increased its position in shares of QUALCOMM by 3.6% during the first quarter. MONECO Advisors LLC now owns 4,322 shares of the wireless technology company’s stock valued at $660,000 after acquiring an additional 151 shares during the last quarter. Lincoln National Corp increased its position in shares of QUALCOMM by 1.4% during the first quarter. Lincoln National Corp now owns 13,667 shares of the wireless technology company’s stock valued at $2,089,000 after acquiring an additional 194 shares during the last quarter. Palisade Capital Management LLC NJ increased its position in shares of QUALCOMM by 1.4% during the first quarter. Palisade Capital Management LLC NJ now owns 59,600 shares of the wireless technology company’s stock valued at $9,108,000 after acquiring an additional 825 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of QUALCOMM by 3.7% during the first quarter. Brown Advisory Inc. now owns 85,455 shares of the wireless technology company’s stock valued at $14,502,000 after acquiring an additional 3,050 shares during the last quarter. Institutional investors own 73.61% of the company’s stock.

QUALCOMM Stock Performance

QCOM traded down $1.31 on Friday, reaching $149.70. The stock had a trading volume of 196,951 shares, compared to its average volume of 8,689,662. QUALCOMM Incorporated has a 12-month low of $118.22 and a 12-month high of $193.58. The company has a current ratio of 1.61, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The business’s 50-day moving average price is $137.06 and its two-hundred day moving average price is $147.49. The company has a market cap of $168.11 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.86 and a beta of 1.22.

QUALCOMM (NASDAQ:QCOMGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The wireless technology company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.44. QUALCOMM had a net margin of 30.52% and a return on equity of 95.77%. The company had revenue of $10.93 billion during the quarter, compared to analysts’ expectations of $10.85 billion. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 earnings per share. Sell-side analysts forecast that QUALCOMM Incorporated will post 10.95 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 1st will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.00 annualized dividend and a yield of 2.00%. QUALCOMM’s dividend payout ratio is presently 26.57%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Erin L. Polek sold 1,521 shares of the business’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $129.95, for a total value of $197,653.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on QCOM shares. Susquehanna Bancshares decreased their target price on QUALCOMM from $190.00 to $165.00 in a research report on Thursday, April 28th. Wells Fargo & Company cut their price target on QUALCOMM from $150.00 to $135.00 and set an “equal weight” rating for the company in a report on Monday, July 11th. UBS Group cut their price target on QUALCOMM from $185.00 to $155.00 in a report on Thursday, April 28th. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. cut their price target on QUALCOMM from $205.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Ten analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $192.35.

About QUALCOMM

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QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. The company 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, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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