QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Sienna Gestion

Key Points

• Sienna Gestion reduced its stake in QUALCOMM by 9.8%, selling 5,418 shares and now holding 49,975 shares valued at approximately $7.46 million.
• Mizuho and Susquehanna have both lowered their price targets for QUALCOMM to $185.00 and $190.00 respectively but rated the stock as "outperform" and "positive".
• QUALCOMM recently announced a quarterly dividend of $0.89, reflecting a 2.3% yield, with the ex-dividend date set for September 4th.

Sienna Gestion cut its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 9.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,975 shares of the wireless technology company's stock after selling 5,418 shares during the quarter. Sienna Gestion's holdings in QUALCOMM were worth $7,462,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at approximately $27,000. Banque Transatlantique SA acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of QUALCOMM by 70.0% in the first 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 during the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $30,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Up 1.0%

QUALCOMM stock traded up $1.50 during midday trading on Thursday, hitting $158.09. 6,287,459 shares of the stock were exchanged, compared to its average volume of 8,781,626. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $182.10. The firm has a market cap of $170.58 billion, a P/E ratio of 15.24, a P/E/G ratio of 2.28 and a beta of 1.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.19 and a quick ratio of 2.38. The company has a 50 day moving average price of $155.56 and a two-hundred day moving average price of $153.82.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results 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. The firm had revenue of $10.37 billion for 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 firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.33 EPS. On average, sell-side analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 4th will be given a $0.89 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $3.56 annualized dividend and a dividend yield of 2.3%. QUALCOMM's payout ratio is presently 34.33%.

Insider Transactions at QUALCOMM

In other news, major shareholder Inc/De Qualcomm sold 412,500 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,333 shares of the business's stock in a transaction dated 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 directly owned 43,207 shares of the company's stock, valued at approximately $6,398,956.70. This represents a 7.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 424,099 shares of company stock valued at $8,352,355. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

QCOM has been the topic of a number of analyst reports. Citigroup restated a "hold" rating on shares of QUALCOMM in a research report on Thursday, July 17th. Rosenblatt Securities restated a "buy" rating and set a $225.00 target price on shares of QUALCOMM in a research report on Thursday, July 31st. Bank of America decreased their target price on shares of QUALCOMM from $245.00 to $200.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Loop Capital decreased their target price on shares of QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $150.00 target price on shares of QUALCOMM in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, QUALCOMM has an average rating of "Hold" and an average price target of $181.10.

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.