QUALCOMM Incorporated $QCOM Shares Sold by Wellington Management Group LLP

Key Points

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Wellington Management Group LLP trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 54.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,366,301 shares of the wireless technology company's stock after selling 5,201,085 shares during the quarter. Wellington Management Group LLP owned 0.40% of QUALCOMM worth $670,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of QUALCOMM by 0.6% during the first quarter. Vanguard Group Inc. now owns 114,368,470 shares of the wireless technology company's stock worth $17,568,141,000 after acquiring an additional 638,284 shares during the period. Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% during the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after buying an additional 1,493,076 shares in the last quarter. Invesco Ltd. boosted its holdings in QUALCOMM by 2.2% during the first quarter. Invesco Ltd. now owns 9,846,093 shares of the wireless technology company's stock worth $1,512,458,000 after buying an additional 215,900 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of QUALCOMM by 17.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,780,687 shares of the wireless technology company's stock valued at $1,502,509,000 after purchasing an additional 1,424,106 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of QUALCOMM by 11.2% in the first quarter. Deutsche Bank AG now owns 8,665,910 shares of the wireless technology company's stock valued at $1,331,170,000 after purchasing an additional 875,412 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on QCOM. Mizuho reduced their price target on shares of QUALCOMM from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. Susquehanna cut their price objective on shares of QUALCOMM from $210.00 to $190.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Bank of America cut 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. Benchmark cut their price objective on shares of QUALCOMM from $240.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of QUALCOMM from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $181.10.

QUALCOMM Price Performance

Shares of QCOM stock opened at $158.90 on Tuesday. The company has a market capitalization of $171.45 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 2.30 and a beta of 1.23. The firm has a fifty day simple moving average of $155.80 and a 200-day simple moving average of $153.38. The company has a current ratio of 3.19, a quick ratio of 2.38 and a debt-to-equity ratio of 0.54. QUALCOMM Incorporated has a twelve month low of $120.80 and a twelve month high of $182.10.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share 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 the consensus estimate of $10.33 billion. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 earnings per share. Equities research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently disclosed 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. This represents a $3.56 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, September 4th. QUALCOMM's dividend payout ratio is 34.33%.

Insider Buying and Selling at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction dated 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 in the company, valued at approximately $7,490,810.88. This trade represents a 6.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock worth $8,352,355 in the last ninety days. 0.08% of the stock is owned by insiders.

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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