Howard Capital Management Inc. Has $6.44 Million Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Howard Capital Management Inc. reduced its stake in QUALCOMM by 10.4%, holding 41,929 shares worth approximately $6.44 million following the sale of 4,842 shares in Q1.
• Several institutional investors, including OVERSEA CHINESE BANKING Corp Ltd which increased its position by 565%, are modifying their holdings, with 74.35% of the stock now owned by such entities.
• QUALCOMM declared a quarterly dividend of $0.89 per share, equating to an annual yield of 2.20%, to be paid on September 25th to shareholders of record on September 4th.

Howard Capital Management Inc. lowered its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,929 shares of the wireless technology company's stock after selling 4,842 shares during the quarter. Howard Capital Management Inc.'s holdings in QUALCOMM were worth $6,441,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Northern Trust Corp increased its holdings in shares of QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of QUALCOMM by 17.0% during the 4th 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 valued at $1,502,509,000 after acquiring an additional 1,424,106 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of QUALCOMM by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,066 shares of the wireless technology company's stock valued at $692,747,000 after acquiring an additional 138,257 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of QUALCOMM by 2.5% during the 4th quarter. First Trust Advisors LP now owns 4,010,518 shares of the wireless technology company's stock valued at $616,096,000 after acquiring an additional 97,343 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

Analysts Set New Price Targets

QCOM has been the topic of a number of analyst reports. Mizuho lowered their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a report on Friday, May 9th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a report on Thursday. Sanford C. Bernstein set a $185.00 target price on QUALCOMM and gave the company an "outperform" rating in a report on Monday. Finally, Susquehanna lowered their target price on QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus target price of $181.91.

QUALCOMM Price Performance

QCOM traded up $1.43 during trading on Friday, hitting $148.19. The company's stock had a trading volume of 12,700,280 shares, compared to its average volume of 8,540,689. The firm's 50 day moving average price is $155.05 and its two-hundred day moving average price is $155.00. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10. The stock has a market capitalization of $162.71 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. The firm had revenue of $10.37 billion during the quarter, compared to the consensus estimate of $10.33 billion. QUALCOMM had a return on equity of 40.44% and a net margin of 26.77%. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 EPS. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.4%. QUALCOMM's payout ratio is 36.25%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the transaction, the insider directly owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. The trade was a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 424,099 shares of company stock valued at $8,324,591 over the last three months. 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.