QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 9.6% in the first quarter, now owning approximately 3.15 million shares, valued at around $483.6 million.
• Brokerages have mixed views on QUALCOMM, with target prices ranging from $150.00 to $216.00, and a consensus rating of "Hold."
• QUALCOMM declared a quarterly dividend of $0.89 per share, representing an annualized yield of 2.25%, with a payout ratio of 36.25%.

Pacer Advisors Inc. decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,148,109 shares of the wireless technology company's stock after selling 333,034 shares during the quarter. QUALCOMM comprises 1.1% of Pacer Advisors Inc.'s portfolio, making the stock its 21st biggest holding. Pacer Advisors Inc. owned about 0.28% of QUALCOMM worth $483,581,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of QCOM. WFA Asset Management Corp bought a new stake in shares of QUALCOMM during the 1st quarter worth approximately $27,000. Banque Transatlantique SA bought a new stake in QUALCOMM during the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC raised its position in QUALCOMM by 70.0% during 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 in the last quarter. Sunbeam Capital Management LLC bought a new stake in QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. bought a new stake in QUALCOMM during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on QCOM. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. UBS Group lifted their target price on QUALCOMM from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Robert W. Baird decreased their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered QUALCOMM from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $184.86.

QUALCOMM Stock Down 0.3%

QCOM stock traded down $0.44 on Friday, hitting $158.40. 4,805,669 shares of the company's stock were exchanged, compared to its average volume of 7,220,092. QUALCOMM Incorporated has a 12-month low of $120.80 and a 12-month high of $182.64. The firm has a 50 day moving average price of $154.60 and a two-hundred day moving average price of $155.03. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.08 and a current ratio of 2.73. The stock has a market cap of $173.92 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.03. The business had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a return on equity of 40.11% and a net margin of 26.11%. The company's quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 EPS. As a group, equities research analysts expect 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. Shareholders of record on Thursday, September 4th will be paid 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 presently 36.25%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $137.74, for a total value of $220,384.00. Following the sale, the insider 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 424,099 shares of company stock worth $8,310,735. 0.08% of the stock is currently owned by insiders.

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.