Northern Trust Corp Has $2.03 Billion Holdings in QUALCOMM Incorporated $QCOM

Key Points

• Northern Trust Corp has reduced its holdings in QUALCOMM Incorporated by 0.5%, now owning approximately 13.2 million shares valued at over $2 billion.
• QUALCOMM recently declared a quarterly dividend of $0.89, set to be paid on September 25th, representing an annualized yield of 2.3%.
• The company's earnings for the last quarter surpassed analysts' expectations, reporting earnings of $2.77 per share and revenue of $10.37 billion, a 10.4% year-over-year increase.

Northern Trust Corp lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,226,504 shares of the wireless technology company's stock after selling 63,009 shares during the period. Northern Trust Corp owned about 1.20% of QUALCOMM worth $2,031,723,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in QUALCOMM by 116.6% in the 4th quarter. Brighton Jones LLC now owns 17,356 shares of the wireless technology company's stock valued at $2,666,000 after buying an additional 9,343 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of QUALCOMM by 15.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,542 shares of the wireless technology company's stock valued at $391,000 after acquiring an additional 340 shares in the last quarter. Farringdon Capital Ltd. purchased a new position in shares of QUALCOMM during the 4th quarter valued at $200,000. Capital Research Global Investors increased its stake in shares of QUALCOMM by 525.5% in the fourth quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock worth $217,141,000 after acquiring an additional 1,187,531 shares during the last quarter. Finally, MML Investors Services LLC raised its holdings in shares of QUALCOMM by 2.6% during the fourth quarter. MML Investors Services LLC now owns 283,877 shares of the wireless technology company's stock worth $43,609,000 after acquiring an additional 7,267 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Down 0.2%

Shares of QCOM stock opened at $157.85 on Monday. The stock has a market cap of $170.32 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 2.30 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. The stock has a fifty day moving average price of $155.73 and a 200 day moving average price of $153.48. QUALCOMM Incorporated has a one year low of $120.80 and a one year high of $182.10.

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, beating analysts' consensus estimates 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 analysts' expectations of $10.33 billion. During the same quarter in the previous year, the firm posted $2.33 earnings per share. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. Analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

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

Analyst Ratings Changes

QCOM has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Susquehanna reduced 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. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the company an "outperform" rating in a research note on Monday, July 28th. UBS Group raised their price objective on shares of QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, Benchmark reduced their target price on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $181.10.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the transaction, the chief financial officer owned 46,446 shares of the company's stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock worth $8,352,355 over the last ninety days. Corporate 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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