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QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Machina Capital S.A.S.

QUALCOMM logo with Computer and Technology background

Machina Capital S.A.S. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 26.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,696 shares of the wireless technology company's stock after selling 2,710 shares during the period. Machina Capital S.A.S.'s holdings in QUALCOMM were worth $1,182,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QCOM. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of QUALCOMM by 565.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 124,327 shares of the wireless technology company's stock valued at $19,098,000 after buying an additional 105,631 shares in the last quarter. PFG Advisors raised its position in QUALCOMM by 8.0% during the first quarter. PFG Advisors now owns 4,314 shares of the wireless technology company's stock valued at $663,000 after purchasing an additional 321 shares in the last quarter. Teza Capital Management LLC bought a new stake in QUALCOMM during the fourth quarter worth about $1,541,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of QUALCOMM by 3.3% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 188,654 shares of the wireless technology company's stock worth $28,979,000 after purchasing an additional 6,017 shares in the last quarter. Finally, Kanawha Capital Management LLC increased its position in shares of QUALCOMM by 1.9% during the 1st quarter. Kanawha Capital Management LLC now owns 85,414 shares of the wireless technology company's stock valued at $13,120,000 after purchasing an additional 1,573 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the transaction, the chief financial officer directly owned 46,446 shares in the company, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $220,384.00. Following the completion of the transaction, the insider directly owned 22,793 shares of the company's stock, valued at $3,139,507.82. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,310,735 in the last three months. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded down $0.44 during midday trading on Friday, hitting $158.40. The company had a trading volume of 4,805,669 shares, compared to its average volume of 7,220,092. The company has a fifty day moving average of $154.60 and a two-hundred day moving average of $155.03. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market cap of $173.92 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 2.05 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data 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 net margin of 26.11% and a return on equity of 40.11%. The business had revenue of $10.98 billion during the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the firm posted $2.44 EPS. The company's revenue was up 17.0% on a year-over-year basis. On average, equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

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 issued a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.25%. QUALCOMM's payout ratio is 36.25%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QCOM. Loop Capital dropped their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. TD Cowen decreased their target price on shares of QUALCOMM from $195.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Benchmark lowered their price target 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. Wells Fargo & Company reduced their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $184.86.

View Our Latest Research Report on QCOM

QUALCOMM Profile

(Free Report)

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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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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