Ensign Peak Advisors Inc Sells 122,727 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ensign Peak Advisors Inc trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 632,899 shares of the wireless technology company's stock after selling 122,727 shares during the period. Ensign Peak Advisors Inc owned 0.06% of QUALCOMM worth $97,226,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Eagle Strategies LLC lifted its holdings in shares of QUALCOMM by 4.3% during the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock worth $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. boosted its stake in QUALCOMM by 3.6% in the fourth quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after acquiring an additional 59 shares during the last quarter. TBH Global Asset Management LLC lifted its stake in shares of QUALCOMM by 0.9% during the 4th quarter. TBH Global Asset Management LLC now owns 7,050 shares of the wireless technology company's stock valued at $1,083,000 after buying an additional 63 shares in the last quarter. PDS Planning Inc increased its holdings in QUALCOMM by 1.6% during the 4th quarter. PDS Planning Inc now owns 4,110 shares of the wireless technology company's stock worth $631,000 after acquiring an additional 64 shares during the period. Finally, CFS Investment Advisory Services LLC increased its holdings in shares of QUALCOMM by 1.1% in the 4th quarter. CFS Investment Advisory Services LLC now owns 6,050 shares of the wireless technology company's stock worth $929,000 after buying an additional 65 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

QUALCOMM Stock Up 0.8%

NASDAQ:QCOM traded up $1.27 on Wednesday, reaching $152.61. 3,446,889 shares of the stock traded hands, compared to its average volume of 8,638,403. The company has a market capitalization of $167.57 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $230.63. The company's fifty day simple moving average is $146.16 and its 200 day simple moving average is $157.25.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $10.58 billion. During the same period in the previous year, the business posted $2.44 earnings per share. The business's revenue for the quarter was up 17.0% on a year-over-year basis. Equities analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th will be paid a $0.89 dividend. 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. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.33%. QUALCOMM's payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the topic of several recent research reports. Susquehanna reduced their target price on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company dropped 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. Cantor Fitzgerald reissued a "neutral" rating and set a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Robert W. Baird dropped 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. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $192.08.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $156.82, for a total value of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider now owns 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,312 shares of company stock worth $1,948,379 over the last three months. 0.08% of the stock is currently owned by company insiders.

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.