QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Harvest Fund Management Co. Ltd

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in QUALCOMM by 5.1%, owning 141,588 shares after selling 7,543 shares.
• QUALCOMM recently declared a quarterly dividend of $0.89, with an ex-dividend date of September 4th, representing a 2.21% dividend yield.
• Analysts have mixed ratings for QUALCOMM, with one sell rating, fourteen hold ratings, and thirteen buy ratings; the average target price is $183.95.

Harvest Fund Management Co. Ltd decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 5.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 141,588 shares of the wireless technology company's stock after selling 7,543 shares during the period. QUALCOMM accounts for approximately 1.1% of Harvest Fund Management Co. Ltd's portfolio, making the stock its 15th largest holding. Harvest Fund Management Co. Ltd's holdings in QUALCOMM were worth $21,741,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of QUALCOMM during the 4th quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of QUALCOMM by 70.0% in the 1st 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 during the last quarter. WFA Asset Management Corp acquired a new position in QUALCOMM in the first quarter valued at $27,000. Sunbeam Capital Management LLC acquired a new stake in QUALCOMM during the fourth quarter worth about $29,000. Finally, Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM in the 4th quarter valued at about $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total transaction of $6,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Heather S. Ace sold 1,600 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total transaction of $220,384.00. Following the sale, the insider directly owned 22,793 shares of the company's stock, valued at $3,139,507.82. This represents a 6.56% 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 $8,310,735 in the last three months. 0.08% of the stock is currently owned by corporate insiders.

QUALCOMM Stock Performance

QCOM stock opened at $161.05 on Tuesday. The company has a market capitalization of $176.83 billion, a P/E ratio of 16.40, a PEG ratio of 2.04 and a beta of 1.26. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $154.74 and a 200 day simple moving average of $155.00. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $182.64.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the company posted $2.44 EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.21%. QUALCOMM's dividend payout ratio is currently 36.25%.

Wall Street Analysts Forecast Growth

QCOM has been the subject of a number of research reports. Bank of America decreased their price target on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Wells Fargo & Company decreased their price objective on shares of QUALCOMM from $175.00 to $140.00 and set an "underweight" rating for the company in a report on Thursday, May 1st. Citigroup restated a "hold" rating on shares of QUALCOMM in a research note on Thursday, July 17th. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. Finally, Evercore ISI lowered their price objective on QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, QUALCOMM currently has an average rating of "Hold" and an average target price of $183.95.

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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