Banco Bilbao Vizcaya Argentaria S.A. Sells 41,893 Shares of QUALCOMM Incorporated $QCOM

Key Points

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Banco Bilbao Vizcaya Argentaria S.A. reduced its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 336,945 shares of the wireless technology company's stock after selling 41,893 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in QUALCOMM were worth $51,708,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in QUALCOMM by 0.6% during the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock valued at $17,568,141,000 after purchasing an additional 638,284 shares during the last quarter. Northern Trust Corp increased its stake in shares of QUALCOMM by 12.7% in 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 buying an additional 1,493,076 shares during the period. Invesco Ltd. increased its stake in shares of QUALCOMM by 2.2% in the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company's stock worth $1,512,458,000 after buying an additional 215,900 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock worth $1,502,509,000 after buying an additional 1,424,106 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of QUALCOMM by 11.2% in the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company's stock worth $1,331,170,000 after buying an additional 875,412 shares during the period. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $148.10, for a total transaction of $493,617.30. Following the completion of the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at $6,398,956.70. This represents a 7.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. The trade was a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 424,099 shares of company stock valued at $8,352,355 in the last quarter. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on QCOM. Sanford C. Bernstein set a $185.00 price objective on shares of QUALCOMM and gave the company an "outperform" rating in a research report on Monday, July 28th. UBS Group boosted their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a report on Thursday, July 31st. Piper Sandler dropped their target price on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Finally, Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $181.10.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $158.90 on Tuesday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The business has a 50-day simple moving average of $155.80 and a two-hundred day simple moving average of $153.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.38 and a current ratio of 3.19. The firm has a market cap of $171.45 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.2%. QUALCOMM's dividend payout ratio is presently 34.33%.

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.

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