Cambridge Investment Research Advisors Inc. Sells 6,708 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 194,090 shares of the wireless technology company's stock after selling 6,708 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in QUALCOMM were worth $29,816,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in QUALCOMM during the fourth quarter worth $2,721,882,000. Amundi grew its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new position in QUALCOMM in the 4th quarter valued at about $527,053,000. Northern Trust Corp lifted its position in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after acquiring an additional 1,493,076 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of QUALCOMM by 525.5% during the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock worth $217,141,000 after acquiring an additional 1,187,531 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on QCOM shares. Piper Sandler dropped their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Mizuho reduced their target price on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Citigroup reduced their target price on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, TD Cowen decreased their price objective on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $192.58.

QUALCOMM Stock Performance

NASDAQ:QCOM opened at $139.90 on Wednesday. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $153.61 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.01 and a beta of 1.29. The company has a fifty day moving average of $146.99 and a 200-day moving average of $158.00. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The firm had revenue of $10.98 billion during the quarter, compared to the consensus estimate of $10.58 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The company's quarterly revenue was up 17.0% on a year-over-year basis. As a group, sell-side analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, June 5th. This is a positive change from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Insiders Place Their Bets

In related news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $169.83, for a total value of $3,275,511.21. Following the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $139.77, for a total value of $465,853.41. Following the completion of the sale, the chief financial officer now directly owns 53,112 shares of the company's stock, valued at approximately $7,423,464.24. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,599 shares of company stock valued at $5,733,290 in the last three months. 0.08% of the stock is currently owned by insiders.

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.

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