Boston Partners Sells 4,793 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Boston Partners reduced its stake in QUALCOMM Incorporated by 1.5%, selling 4,793 shares, and now holds 305,089 shares valued at approximately $46.8 million.
• QUALCOMM recently reported quarterly earnings of $2.77 per share, exceeding analysts' expectations, with revenue reaching $10.37 billion, reflecting a 10.4% increase from the previous year.
• The company announced a quarterly dividend of $0.89 per share, to be paid on September 25th, representing an annualized yield of 2.3%.

Boston Partners decreased its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 305,089 shares of the wireless technology company's stock after selling 4,793 shares during the quarter. Boston Partners' holdings in QUALCOMM were worth $46,835,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Eagle Strategies LLC increased its stake in QUALCOMM by 4.3% in the fourth quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after acquiring an additional 59 shares during the period. Clark Capital Management Group Inc. increased 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 period. Westwood Holdings Group Inc. increased its stake in QUALCOMM by 2.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after acquiring an additional 69 shares during the period. Collaborative Wealth Managment Inc. increased its stake in QUALCOMM by 5.1% in the first quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after acquiring an additional 69 shares during the period. Finally, Thoroughbred Financial Services LLC increased its stake in QUALCOMM by 0.3% in the first quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock valued at $3,879,000 after acquiring an additional 69 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Up 1.0%

Shares of NASDAQ QCOM opened at $158.09 on Friday. The company's 50 day simple moving average is $155.56 and its 200 day simple moving average is $153.82. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. The firm has a market capitalization of $170.58 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share 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 business had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same period in the prior year, the business posted $2.33 earnings per share. QUALCOMM's revenue was up 10.4% compared to the same quarter last year. On average, analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.3%. QUALCOMM's dividend payout ratio (DPR) is 34.33%.

Analysts Set New Price Targets

A number of research firms recently weighed in on QCOM. UBS Group upped their target price on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Benchmark decreased their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Seaport Res Ptn raised shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Susquehanna decreased their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Finally, Loop Capital decreased their price objective on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and an average target price of $181.10.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares in the company, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 424,099 shares of company stock worth $8,352,355. Company 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.

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