Maj Invest Holding A S Has $170.80 Million Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Maj Invest Holding A S reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,111,883 shares of the wireless technology company's stock after selling 64,690 shares during the quarter. QUALCOMM makes up approximately 6.2% of Maj Invest Holding A S's holdings, making the stock its 4th biggest position. Maj Invest Holding A S owned approximately 0.10% of QUALCOMM worth $170,795,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after buying an additional 707,468 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of QUALCOMM by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after buying an additional 670,432 shares during the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi boosted its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of QUALCOMM by 12.7% in 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 buying an additional 1,493,076 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the transaction, the chief financial officer owned 46,446 shares in the company, valued at $7,490,810.88. The trade was a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated 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. Over the last quarter, insiders have sold 425,016 shares of company stock worth $8,437,440. Company insiders own 0.08% of the company's stock.

QUALCOMM Stock Down 0.1%

Shares of NASDAQ QCOM opened at $162.11 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $211.09. The stock has a market capitalization of $177.99 billion, a P/E ratio of 16.51, a PEG ratio of 2.09 and a beta of 1.26. The stock's fifty day moving average is $151.32 and its 200 day moving average is $154.94.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. During the same quarter last year, the business earned $2.44 earnings per share. QUALCOMM's revenue was up 17.0% on a year-over-year basis. Sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were given a $0.89 dividend. The ex-dividend date was Thursday, June 5th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is presently 36.25%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Citigroup cut their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Rosenblatt Securities reaffirmed a "buy" rating and set a $225.00 price target on shares of QUALCOMM in a report on Thursday, May 1st. Evercore ISI cut their price target on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. Finally, Susquehanna cut their price target on QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $186.96.

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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