ANTIPODES PARTNERS Ltd Sells 176,824 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

ANTIPODES PARTNERS Ltd cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 46.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,161 shares of the wireless technology company’s stock after selling 176,824 shares during the period. ANTIPODES PARTNERS Ltd’s holdings in QUALCOMM were worth $31,517,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WFA Asset Management Corp purchased a new stake in QUALCOMM in the 1st quarter worth approximately $27,000. Banque Transatlantique SA purchased a new position in QUALCOMM during the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC lifted its position in QUALCOMM by 70.0% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company’s stock valued at $26,000 after acquiring an additional 70 shares during the period. Sunbeam Capital Management LLC purchased a new position in QUALCOMM during the 4th quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. purchased a new position in QUALCOMM during the 4th quarter valued at about $30,000. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Performance

Shares of QCOM traded down $1.68 during mid-day trading on Thursday, reaching $158.20. 1,301,405 shares of the company’s stock were exchanged, compared to its average volume of 8,338,530. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The stock has a market capitalization of $173.70 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26. The business’s fifty day simple moving average is $154.35 and its 200-day simple moving average is $155.05. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $182.64.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The company had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. QUALCOMM’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, September 4th. QUALCOMM’s dividend payout ratio (DPR) is presently 36.25%.

Analyst Upgrades and Downgrades

QCOM has been the subject of several recent research reports. Robert W. Baird cut their target price on shares of QUALCOMM from $250.00 to $216.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Seaport Res Ptn raised shares of QUALCOMM to a “hold” rating in a research report on Friday, May 9th. Wells Fargo & Company reduced their price target on shares of QUALCOMM from $175.00 to $140.00 and set an “underweight” rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $184.86.

Insider Buying and Selling at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company’s stock, valued at approximately $3,139,507.82. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,310,735 in the last three months. Corporate insiders own 0.08% of the company’s stock.

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.