QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Fosun International Ltd

Fosun International Ltd lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 30.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,600 shares of the wireless technology company’s stock after selling 1,970 shares during the period. QUALCOMM makes up about 0.1% of Fosun International Ltd’s investment portfolio, making the stock its 24th biggest position. Fosun International Ltd’s holdings in QUALCOMM were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after buying an additional 483,390 shares in the last quarter. Morgan Stanley lifted its stake in QUALCOMM by 2.2% in the 3rd quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company’s stock valued at $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Northern Trust Corp lifted its stake in QUALCOMM by 3.5% in the 3rd quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company’s stock valued at $1,365,092,000 after buying an additional 415,398 shares in the last quarter. Invesco Ltd. lifted its stake in QUALCOMM by 15.7% in the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company’s stock valued at $1,027,269,000 after buying an additional 1,253,173 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in QUALCOMM by 4.3% in the 4th 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 buying an additional 259,403 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Activity

In other news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $178.21, for a total transaction of $366,399.76. Following the sale, the director now owns 54 shares of the company’s stock, valued at $9,623.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Cristiano R. Amon sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $178.21, for a total transaction of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at approximately $9,623.34. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,316 shares of company stock valued at $7,796,128. Insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 0.3 %

Shares of QCOM stock traded down $0.61 during trading hours on Thursday, hitting $179.94. 777,263 shares of the company were exchanged, compared to its average volume of 8,608,742. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65. The business’s 50-day simple moving average is $168.62 and its two-hundred day simple moving average is $148.09. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $184.31. The stock has a market capitalization of $200.81 billion, a price-to-earnings ratio of 24.27, a P/E/G ratio of 2.27 and a beta of 1.33.

QUALCOMM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued 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 yield of 1.89%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Mizuho upped their target price on QUALCOMM from $160.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. HSBC increased their price target on QUALCOMM from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Barclays increased their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Benchmark reaffirmed a “buy” rating and issued a $200.00 target price on shares of QUALCOMM in a research report on Friday, May 3rd. Finally, Rosenblatt Securities increased their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of “Moderate Buy” and an average target price of $180.48.

About QUALCOMM

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.