Boston Partners Sells 1,199,447 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Boston Partners decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,798,705 shares of the wireless technology company's stock after selling 1,199,447 shares during the quarter. Boston Partners owned approximately 0.16% of QUALCOMM worth $260,520,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in QUALCOMM by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company's stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. Morgan Stanley grew its position in QUALCOMM by 2.2% during the third quarter. Morgan Stanley now owns 20,767,489 shares of the wireless technology company's stock worth $2,306,438,000 after buying an additional 438,660 shares in the last quarter. Northern Trust Corp increased its stake in QUALCOMM by 3.5% during the third quarter. Northern Trust Corp now owns 12,291,482 shares of the wireless technology company's stock valued at $1,365,092,000 after acquiring an additional 415,398 shares during the period. Invesco Ltd. raised its holdings in QUALCOMM by 15.7% in the 3rd quarter. Invesco Ltd. now owns 9,249,675 shares of the wireless technology company's stock valued at $1,027,269,000 after acquiring an additional 1,253,173 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of QUALCOMM by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,317,857 shares of the wireless technology company's stock worth $913,752,000 after acquiring an additional 259,403 shares during the period. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded up $2.13 during midday trading on Monday, reaching $184.21. The company's stock had a trading volume of 6,383,778 shares, compared to its average volume of 8,596,053. QUALCOMM Incorporated has a fifty-two week low of $101.47 and a fifty-two week high of $184.73. The company has a market capitalization of $205.58 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.25 and a beta of 1.33. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. The business's fifty day simple moving average is $169.95 and its 200-day simple moving average is $149.64.

QUALCOMM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 1.85%. This is a positive change from QUALCOMM's previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. QUALCOMM's dividend payout ratio (DPR) is presently 45.70%.

Insider Buying and Selling

In related news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now directly owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other QUALCOMM news, CAO Neil Martin sold 371 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares in the company, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The disclosure for this sale can be found here. Insiders sold a total of 58,160 shares of company stock worth $9,939,349 over the last three months. 0.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

QCOM has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on QUALCOMM from $120.00 to $140.00 and gave the company an "underweight" rating in a research note on Thursday, May 2nd. Benchmark restated a "buy" rating and issued a $200.00 price objective on shares of QUALCOMM in a research note on Friday, May 3rd. Mizuho lifted their target price on shares of QUALCOMM from $160.00 to $180.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Piper Sandler increased their price target on shares of QUALCOMM from $165.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, May 2nd. Finally, Barclays lifted their price objective on QUALCOMM from $155.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, QUALCOMM currently has an average rating of "Moderate Buy" and a consensus target price of $180.48.

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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