QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by RWC Asset Management LLP

RWC Asset Management LLP reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 606,895 shares of the wireless technology company’s stock after selling 34,685 shares during the period. QUALCOMM comprises approximately 5.3% of RWC Asset Management LLP’s holdings, making the stock its 2nd biggest holding. RWC Asset Management LLP’s holdings in QUALCOMM were worth $87,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of QCOM. Financial Gravity Asset Management Inc. grew its stake in QUALCOMM by 102.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 241 shares of the wireless technology company’s stock worth $26,000 after acquiring an additional 122 shares during the period. Legacy Financial Group LLC purchased a new stake in shares of QUALCOMM during the 3rd quarter valued at $29,000. Fortitude Family Office LLC purchased a new stake in shares of QUALCOMM during the 4th quarter valued at $35,000. Cranbrook Wealth Management LLC grew its stake in shares of QUALCOMM by 68.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 247 shares of the wireless technology company’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Leith Wheeler Investment Counsel Ltd. grew its stake in shares of QUALCOMM by 184.3% during the 4th quarter. Leith Wheeler Investment Counsel Ltd. now owns 252,913 shares of the wireless technology company’s stock valued at $37,000 after buying an additional 163,963 shares during the period. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Stock Up 1.4 %

Shares of QUALCOMM stock traded up $2.36 during trading on Friday, reaching $165.66. The company had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. The company has a market cap of $184.88 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. The firm’s fifty day moving average is $165.84 and its 200-day moving average is $144.47. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $177.59.

QUALCOMM (NASDAQ:QCOM) last issued its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a net margin of 21.39% and a return on equity of 38.06%. On average, analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS 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. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Activity

In other news, CAO Neil Martin sold 371 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $103,232.87. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Neil Martin sold 371 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $149.83, for a total transaction 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 approximately $103,232.87. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,260 shares of company stock worth $5,973,728. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

QCOM has been the subject of several research reports. KeyCorp boosted their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Susquehanna boosted their price objective on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Evercore ISI initiated coverage on shares of QUALCOMM in a research note on Tuesday, April 16th. They set an “in-line” rating and a $177.00 price objective for the company. Benchmark began coverage on shares of QUALCOMM in a research note on Tuesday. They set a “buy” rating and a $200.00 price objective for the company. Finally, Canaccord Genuity Group lifted their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average target price of $158.86.

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.