TCW Group Inc. Sells 91,630 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Key Points

• TCW Group Inc. has significantly reduced its stake in QUALCOMM by 84.8%, selling 91,630 shares and leaving it with 16,407 shares valued at approximately $2.52 million.
• Insider Heather S. Ace sold 1,600 shares at an average price of $137.74, reducing her ownership by 6.56%, while major shareholder Inc/De Qualcomm sold a substantial 412,500 shares for $6.6 million.
• QUALCOMM reported a quarterly earnings per share (EPS) of $2.85, exceeding analyst expectations of $2.82, with a revenue of $10.98 billion, marking a 17% year-over-year increase.

TCW Group Inc. lessened its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 84.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,407 shares of the wireless technology company's stock after selling 91,630 shares during the period. TCW Group Inc.'s holdings in QUALCOMM were worth $2,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in QUALCOMM during the 4th quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC boosted its stake in QUALCOMM by 70.0% during the 1st 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. WFA Asset Management Corp purchased a new stake in QUALCOMM during the 1st quarter valued at $27,000. Sunbeam Capital Management LLC purchased a new stake in QUALCOMM during the 4th quarter valued at $29,000. Finally, Mascagni Wealth Management Inc. purchased a new stake in QUALCOMM during the 4th quarter valued at $30,000. Institutional investors own 74.35% of the company's stock.

Insider Buying and Selling at QUALCOMM

In other news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction dated Friday, May 2nd. The stock was 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 of the company's stock, valued at approximately $3,139,507.82. The trade was a 6.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The stock was 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 a total of 424,099 shares of company stock valued at $8,310,735 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Price Performance

NASDAQ:QCOM opened at $161.05 on Tuesday. The company has a quick ratio of 2.08, a current ratio of 2.73 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $154.74 and its two-hundred day simple moving average is $155.00. The stock has a market cap of $176.83 billion, a PE ratio of 16.40, a P/E/G ratio of 2.04 and a beta of 1.26. QUALCOMM Incorporated has a 52 week low of $120.80 and a 52 week high of $182.64.

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

QUALCOMM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 4th will be issued a dividend of $0.89 per share. The ex-dividend date is Thursday, September 4th. This represents a $3.56 dividend on an annualized basis and a yield of 2.21%. QUALCOMM's dividend payout ratio is presently 36.25%.

Analyst Ratings Changes

Several brokerages have commented on QCOM. Loop Capital cut their target price on QUALCOMM from $180.00 to $155.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on QUALCOMM from $175.00 to $140.00 and set an "underweight" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen upgraded QUALCOMM from a "hold" rating to a "buy" rating in a research note on Saturday. Sanford C. Bernstein set a $185.00 price target on QUALCOMM and gave the stock an "outperform" rating in a research note on Monday. Finally, UBS Group raised their price target on QUALCOMM from $145.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Hold" and an average price target of $183.95.

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.

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