Forsta AP Fonden Sells 8,000 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Forsta AP Fonden decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 309,400 shares of the wireless technology company's stock after selling 8,000 shares during the quarter. Forsta AP Fonden's holdings in QUALCOMM were worth $47,527,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of QCOM. Banque Transatlantique SA bought a new position in shares of QUALCOMM in the fourth quarter worth $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings 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. WFA Asset Management Corp purchased a new stake in shares of QUALCOMM during the first quarter valued at approximately $27,000. Sunbeam Capital Management LLC bought a new stake in QUALCOMM in the 4th quarter worth $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

QCOM opened at $145.90 on Friday. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.10. 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 company has a fifty day moving average of $155.03 and a 200 day moving average of $154.45. The stock has a market capitalization of $157.43 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 2.13 and a beta of 1.23.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.06. The firm had revenue of $10.37 billion for the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.33 EPS. As a group, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.4%. QUALCOMM's dividend payout ratio is currently 34.33%.

Insider Activity

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

Analysts Set New Price Targets

A number of brokerages have issued reports on QCOM. Citigroup reissued a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Piper Sandler lowered their price objective on QUALCOMM from $190.00 to $175.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Seaport Res Ptn upgraded shares of QUALCOMM to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their price target on QUALCOMM from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, Bank of America dropped their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, QUALCOMM has a consensus rating of "Hold" and a consensus price target of $181.10.

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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