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

RWC Asset Management LLP lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.4% in the fourth quarter, according to the company in 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 quarter. QUALCOMM comprises about 5.3% of RWC Asset Management LLP’s portfolio, making the stock its 2nd largest position. RWC Asset Management LLP owned about 0.05% of QUALCOMM worth $87,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transcend Capital Advisors LLC lifted its holdings in shares of QUALCOMM by 0.9% in the 4th quarter. Transcend Capital Advisors LLC now owns 11,793 shares of the wireless technology company’s stock valued at $1,706,000 after buying an additional 106 shares during the period. Opinicus Capital Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $1,597,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $228,000. Unique Wealth Strategies LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $666,000. Finally, Bank OZK acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $222,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on QCOM shares. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. Susquehanna upped their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Cantor Fitzgerald upped their price target on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Piper Sandler upped their price target on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, KeyCorp boosted their price objective on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.86.

QUALCOMM Trading Up 1.4 %

QUALCOMM stock traded up $2.36 during mid-day trading on Friday, hitting $165.66. The company’s stock had a trading volume of 7,141,339 shares, compared to its average volume of 6,691,146. The firm has a market capitalization of $184.88 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.41. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $165.84 and its two-hundred day moving average is $144.47.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. On average, analysts anticipate that QUALCOMM Incorporated will post 7.64 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.05%. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. QUALCOMM’s dividend payout ratio is 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares in the company, valued at $2,747,520. The disclosure for this sale can be found here. Insiders have sold 36,260 shares of company stock worth $5,973,728 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.