Mizuho Markets Americas LLC Sells 157,129 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• Mizuho Markets Americas LLC significantly reduced its stake in QUALCOMM, selling 157,129 shares and lowering its ownership by 88.1%.
• QUALCOMM recently reported quarterly earnings of $2.77 per share, exceeding estimates, with revenues reaching $10.37 billion, a 10.4% increase year-over-year.
• The company declared a quarterly dividend of $0.89 per share, scheduled for payment on September 25th, indicating a 2.4% yield annually.

Mizuho Markets Americas LLC decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 88.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,302 shares of the wireless technology company's stock after selling 157,129 shares during the quarter. Mizuho Markets Americas LLC's holdings in QUALCOMM were worth $3,272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Strategies LLC raised its stake in shares of QUALCOMM by 4.3% in the 4th quarter. Eagle Strategies LLC now owns 1,427 shares of the wireless technology company's stock valued at $219,000 after purchasing an additional 59 shares during the period. Clark Capital Management Group Inc. grew its holdings in shares of QUALCOMM by 3.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 1,717 shares of the wireless technology company's stock valued at $264,000 after acquiring an additional 59 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of QUALCOMM by 2.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,313 shares of the wireless technology company's stock valued at $509,000 after acquiring an additional 69 shares in the last quarter. Collaborative Wealth Managment Inc. grew its holdings in shares of QUALCOMM by 5.1% in the 1st quarter. Collaborative Wealth Managment Inc. now owns 1,412 shares of the wireless technology company's stock valued at $217,000 after acquiring an additional 69 shares in the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of QUALCOMM by 0.3% in the 1st quarter. Thoroughbred Financial Services LLC now owns 25,254 shares of the wireless technology company's stock valued at $3,879,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company's stock.

QUALCOMM Stock Performance

Shares of NASDAQ:QCOM traded up $1.66 during trading on Friday, reaching $147.56. 5,026,408 shares of the stock were exchanged, compared to its average volume of 8,742,058. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. The firm has a market cap of $159.22 billion, a PE ratio of 14.23, a PEG ratio of 2.16 and a beta of 1.23. The stock has a 50-day moving average price of $155.07 and a 200-day moving average price of $154.20. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.06. The business had revenue of $10.37 billion during the quarter, compared to analysts' expectations of $10.33 billion. QUALCOMM had a return on equity of 40.35% and a net margin of 26.77%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 earnings per share. Research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business 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 2.4%. The ex-dividend date is Thursday, September 4th. QUALCOMM's payout ratio is 34.33%.

Insider Activity at QUALCOMM

In related news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $16.00, for a total value of $6,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, August 1st. The shares were sold at an average price of $146.40, for a total value of $234,240.00. Following the completion of the sale, the insider owned 21,193 shares of the company's stock, valued at approximately $3,102,655.20. This trade represents a 7.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 424,099 shares of company stock worth $8,352,355. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Rosenblatt Securities restated a "buy" rating and issued a $225.00 price objective on shares of QUALCOMM in a report on Thursday, July 31st. Bank of America decreased their price objective on QUALCOMM from $245.00 to $200.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Mizuho decreased their price objective on QUALCOMM from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Loop Capital decreased their price objective on QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Evercore ISI decreased 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 research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $181.10.

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.