QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 4.9% in the 1st quarter, HoldingsChannel reports. The fund owned 474,597 shares of the wireless technology company’s stock after selling 24,299 shares during the period. Handelsbanken Fonder AB’s holdings in QUALCOMM were worth $72,903,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock worth $17,471,231,000 after buying an additional 707,468 shares during the period. Geode Capital Management LLC grew its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company’s stock valued at $4,262,826,000 after buying an additional 670,432 shares during the period. Norges Bank acquired a new stake in shares of QUALCOMM during the 4th quarter worth $2,721,882,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company’s stock worth $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of QUALCOMM by 12.7% in the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company’s stock worth $2,041,535,000 after buying an additional 1,493,076 shares during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 4.1%

QUALCOMM stock opened at $155.41 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $230.63. The company has a 50-day simple moving average of $143.64 and a 200-day simple moving average of $155.11. The firm has a market capitalization of $170.64 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.01 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping the consensus estimate of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The firm had revenue of $10.98 billion for the quarter, compared to analysts’ expectations of $10.58 billion. During the same period in the previous year, the business earned $2.44 earnings per share. QUALCOMM’s revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.29%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM’s previous quarterly dividend of $0.85. QUALCOMM’s payout ratio is presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the sale, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This represents a 6.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 425,064 shares of company stock valued at $8,381,948. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of research reports. Robert W. Baird lowered their price target on QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company decreased their target price on QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a report on Thursday, May 1st. Rosenblatt Securities reissued a “buy” rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. TD Cowen reduced their price target on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, April 9th. Finally, Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has an average rating of “Hold” and a consensus target price of $189.88.

QUALCOMM 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.