Bridgewater Advisors Inc. Sells 3,479 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Bridgewater Advisors Inc. trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 22.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 11,856 shares of the wireless technology company's stock after selling 3,479 shares during the quarter. Bridgewater Advisors Inc.'s holdings in QUALCOMM were worth $1,741,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA bought a new stake in QUALCOMM in the fourth quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC raised its stake in shares of QUALCOMM by 70.0% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 170 shares of the wireless technology company's stock valued at $26,000 after purchasing an additional 70 shares in the last quarter. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the first quarter valued at about $27,000. Sunbeam Capital Management LLC bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of QUALCOMM during the fourth quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $137.74, for a total value of $220,384.00. Following the completion of the sale, the insider directly owned 22,793 shares in the company, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total value of $537,546.24. Following the completion of the sale, the chief financial officer owned 46,446 shares of the company's stock, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 424,099 shares of company stock valued at $8,310,735. 0.08% of the stock is owned by corporate insiders.

QUALCOMM Stock Up 1.4%

Shares of NASDAQ QCOM traded up $2.19 during trading hours on Friday, hitting $154.80. The stock had a trading volume of 7,367,060 shares, compared to its average volume of 8,488,572. The company has a market capitalization of $169.97 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.99 and a beta of 1.26. The firm's 50-day moving average price is $153.76 and its two-hundred day moving average price is $154.96. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $196.24. 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 (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The firm's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 EPS. Analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 4th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 2.30%. QUALCOMM's payout ratio is 36.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Susquehanna cut their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Bank of America dropped their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $150.00 price target on shares of QUALCOMM in a research report on Thursday, May 1st. Wall Street Zen cut shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Evercore ISI dropped their price target 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. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and an average target price of $186.00.

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.