QUALCOMM Incorporated $QCOM Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its holdings in QUALCOMM by 9.2%, selling 91,103 shares, and now owns 895,609 shares valued at approximately $137.6 million.
• Various hedge funds, including GAMMA Investing LLC and Northern Trust Corp, significantly increased their positions in QUALCOMM, while institutional investors currently own 74.35% of the stock.
• QUALCOMM announced a quarterly dividend of $0.89 per share, representing an annualized payout of $3.56 and a yield of 2.3%, payable on September 25th.

American Century Companies Inc. decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 895,609 shares of the wireless technology company's stock after selling 91,103 shares during the period. American Century Companies Inc. owned 0.08% of QUALCOMM worth $137,575,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Ethic Inc. boosted its holdings in shares of QUALCOMM by 2.0% in the first quarter. Ethic Inc. now owns 118,975 shares of the wireless technology company's stock valued at $18,209,000 after purchasing an additional 2,318 shares during the period. EverSource Wealth Advisors LLC boosted its position in QUALCOMM by 33.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 10,011 shares of the wireless technology company's stock valued at $1,538,000 after acquiring an additional 2,504 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of QUALCOMM by 83.1% in the 1st quarter. Aberdeen Group plc now owns 971,149 shares of the wireless technology company's stock valued at $145,459,000 after acquiring an additional 440,622 shares during the period. Dimensional Fund Advisors LP raised its position in shares of QUALCOMM by 3.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,669,315 shares of the wireless technology company's stock worth $717,161,000 after acquiring an additional 160,249 shares in the last quarter. Finally, Horizon Investments LLC raised its position in shares of QUALCOMM by 3.4% in the 1st quarter. Horizon Investments LLC now owns 20,951 shares of the wireless technology company's stock worth $3,218,000 after acquiring an additional 685 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Stock Performance

QUALCOMM stock traded up $1.05 during midday trading on Monday, hitting $158.90. 4,770,266 shares of the company were exchanged, compared to its average volume of 8,435,079. The business has a fifty day simple moving average of $155.73 and a two-hundred day simple moving average of $153.48. 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 firm has a market capitalization of $171.45 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week 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 the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The firm had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same period in the previous year, the firm earned $2.33 EPS. The business's quarterly revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

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 dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. QUALCOMM's dividend payout ratio is presently 34.33%.

Insider Transactions at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider directly owned 21,193 shares of the company's stock, valued at $3,102,655.20. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 424,099 shares of company stock valued at $8,352,355 in the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

QCOM has been the topic of several analyst reports. Evercore ISI cut their target price on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating on the stock in a research note on Friday, May 2nd. Susquehanna lowered their price target on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Piper Sandler cut their price objective on shares of QUALCOMM from $190.00 to $175.00 and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. Finally, Robert W. Baird lowered their target price on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and an average target price of $181.10.

About QUALCOMM

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.