QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 474,597 shares of the wireless technology company's stock after selling 24,299 shares during the quarter. Handelsbanken Fonder AB's holdings in QUALCOMM were worth $72,903,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of QUALCOMM during the fourth quarter worth approximately $26,000. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter valued at $26,000. WFA Asset Management Corp acquired a new position in QUALCOMM during the 1st quarter worth $27,000. Centricity Wealth Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $29,000. Finally, Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $146.10, for a total transaction of $486,951.30. Following the completion of the transaction, the chief financial officer now directly owns 49,779 shares of the company's stock, valued at approximately $7,272,711.90. This trade represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM 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 disclosure for this sale can be found here. In the last three months, insiders have sold 423,464 shares of company stock worth $8,135,164. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on QCOM shares. Evercore ISI reduced their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company reduced their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. TD Cowen decreased their target price on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Rosenblatt Securities reissued a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Finally, Susquehanna reduced their price objective on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus target price of $189.88.

QUALCOMM Stock Performance

QCOM traded down $3.98 during trading hours on Friday, hitting $154.72. The company's stock had a trading volume of 8,444,486 shares, compared to its average volume of 8,732,938. The company has a 50-day simple moving average of $145.85 and a 200 day simple moving average of $155.15. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $169.88 billion, a PE ratio of 16.53, a PEG ratio of 2.01 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. The company's revenue for the quarter was up 17.0% compared to the same quarter last year. As a group, sell-side analysts expect 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. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.89 per share. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a yield of 2.30%. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

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.