QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,224,678 shares of the wireless technology company's stock after selling 34,583 shares during the period. Rhumbline Advisers owned approximately 0.20% of QUALCOMM worth $341,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its holdings in shares of QUALCOMM by 21.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company's stock valued at $4,239,000 after buying an additional 4,955 shares during the period. Howard Bailey Securities LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $240,000. Teza Capital Management LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $1,541,000. Purkiss Capital Advisors LLC purchased a new stake in shares of QUALCOMM in the 4th quarter valued at $303,000. Finally, Amundi raised its holdings in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after buying an additional 3,905,918 shares during the period. Institutional investors and hedge funds own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, major shareholder Inc/De Qualcomm sold 412,500 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the sale, the insider now directly owns 24,393 shares of the company's stock, valued at $3,762,376.32. The trade was a 6.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 425,064 shares of company stock valued at $8,381,948. 0.08% of the stock is owned by company insiders.

QUALCOMM Stock Performance

Shares of NASDAQ QCOM traded up $0.67 during trading hours on Wednesday, reaching $149.61. The stock had a trading volume of 3,115,568 shares, compared to its average volume of 8,729,896. The firm has a market cap of $164.27 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.01 and a beta of 1.29. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The firm has a 50-day moving average of $143.88 and a 200-day moving average of $155.39.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its 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. The firm had revenue of $10.98 billion during the quarter, compared to analysts' expectations of $10.58 billion. QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. The business's revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Equities research analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. The ex-dividend date is Thursday, June 5th. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.38%. QUALCOMM's dividend payout ratio is 36.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a report on Thursday, May 1st. Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a report on Friday, May 9th. Wall Street Zen downgraded QUALCOMM from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Piper Sandler cut their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Robert W. Baird cut their price target on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $189.88.

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.