QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Rathbones Group PLC

Key Points

• Rathbones Group PLC has reduced its stake in QUALCOMM by 10.6%, holding a total of 61,164 shares valued at approximately $9.40 million as of the last reporting period.
• Several institutional investors have made significant changes to their holdings in QUALCOMM, with Nuveen LLC acquiring a new position worth $529.71 million during the same quarter.
• QUALCOMM recently announced a quarterly dividend of $0.89 per share, with a yield of 2.3%, scheduled to be paid to investors of record on September 4th.

Rathbones Group PLC decreased its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.6% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 61,164 shares of the wireless technology company's stock after selling 7,229 shares during the period. Rathbones Group PLC's holdings in QUALCOMM were worth $9,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Todd Asset Management LLC lifted its stake in shares of QUALCOMM by 4.3% during the first quarter. Todd Asset Management LLC now owns 475,085 shares of the wireless technology company's stock valued at $72,978,000 after buying an additional 19,482 shares during the period. AIA Group Ltd lifted its stake in shares of QUALCOMM by 49.7% during the first quarter. AIA Group Ltd now owns 38,026 shares of the wireless technology company's stock valued at $5,841,000 after buying an additional 12,626 shares during the period. Longfellow Investment Management Co. LLC lifted its stake in shares of QUALCOMM by 62.3% during the first quarter. Longfellow Investment Management Co. LLC now owns 8,130 shares of the wireless technology company's stock valued at $1,249,000 after buying an additional 3,121 shares during the period. WP Advisors LLC lifted its stake in shares of QUALCOMM by 1.7% during the first quarter. WP Advisors LLC now owns 8,673 shares of the wireless technology company's stock valued at $1,332,000 after buying an additional 146 shares during the period. Finally, Maia Wealth LLC lifted its stake in shares of QUALCOMM by 4.8% during the first quarter. Maia Wealth LLC now owns 9,988 shares of the wireless technology company's stock valued at $1,534,000 after buying an additional 455 shares during the period. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,333 shares of QUALCOMM stock in a transaction on Monday, August 4th. The shares were sold at an average price of $148.10, for a total transaction of $493,617.30. Following the sale, the chief financial officer owned 43,207 shares of the company's stock, valued at $6,398,956.70. The trade was a 7.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Friday, August 1st. The stock was sold at an average price of $146.40, for a total transaction of $234,240.00. Following the sale, the insider directly owned 21,193 shares in the company, valued at $3,102,655.20. This trade represents a 7.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 424,099 shares of company stock valued at $8,352,355 in the last quarter. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on QCOM. Bank of America reduced their price objective on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, June 17th. UBS Group upped their price target on shares of QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Evercore ISI dropped their price target on shares of QUALCOMM from $179.00 to $157.00 and set an "in-line" rating for the company in a research report on Friday, May 2nd. Loop Capital dropped their price target on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. Finally, Robert W. Baird dropped their price target on shares of QUALCOMM from $250.00 to $216.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $181.10.

QUALCOMM Trading Up 1.9%

Shares of QUALCOMM stock traded up $2.86 during trading hours on Wednesday, hitting $156.59. The company's stock had a trading volume of 7,098,897 shares, compared to its average volume of 8,781,794. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $182.10. The business has a fifty day moving average of $155.35 and a 200 day moving average of $153.91. The company has a market capitalization of $168.96 billion, a PE ratio of 15.10, a P/E/G ratio of 2.24 and a beta of 1.23. The company has a quick ratio of 2.38, a current ratio of 3.19 and a debt-to-equity ratio of 0.54.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The wireless technology company reported $2.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.06. QUALCOMM had a net margin of 26.77% and a return on equity of 40.35%. The company had revenue of $10.37 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the prior year, the business earned $2.33 earnings per share. The business's quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The company 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 dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a yield of 2.3%. QUALCOMM's payout ratio is 34.33%.

QUALCOMM 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.