QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,397,329 shares of the wireless technology company's stock after selling 11,969 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of QUALCOMM worth $214,644,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Banque Transatlantique SA purchased a new position in QUALCOMM in the fourth quarter valued at approximately $26,000. WFA Asset Management Corp purchased a new position in shares of QUALCOMM in the 1st quarter valued at $27,000. Sunbeam Capital Management LLC purchased a new position in shares of QUALCOMM in the 4th quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of QUALCOMM during the 4th quarter valued at $30,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in QUALCOMM during the 4th quarter worth $31,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of the 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 transaction, the chief financial officer directly owned 46,446 shares of the company's stock, valued at $7,490,810.88. This represents a 6.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on 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 directly owned 22,793 shares in the company, valued at $3,139,507.82. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,016 shares of company stock worth $8,437,440 in the last ninety days. 0.08% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on QCOM. Seaport Res Ptn raised QUALCOMM to a "hold" rating in a research report on Friday, May 9th. Wells Fargo & Company dropped their target price on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Loop Capital reduced their price target on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Bank of America lowered their price objective 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. Finally, Wall Street Zen cut shares of 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, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, QUALCOMM presently has an average rating of "Hold" and an average target price of $186.96.

QUALCOMM Stock Performance

QUALCOMM stock opened at $162.11 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. QUALCOMM Incorporated has a 12 month low of $120.80 and a 12 month high of $211.09. The company has a fifty day moving average price of $151.05 and a two-hundred day moving average price of $154.90. The company has a market cap of $177.99 billion, a PE ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. QUALCOMM's revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the company posted $2.44 earnings per share. Research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 5th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

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.

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