Nuveen Asset Management LLC Sells 908,841 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Nuveen Asset Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,932,295 shares of the wireless technology company's stock after selling 908,841 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.27% of QUALCOMM worth $450,459,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of QCOM. Norges Bank bought a new stake in shares of QUALCOMM in the 4th quarter valued at about $2,721,882,000. Amundi boosted its holdings in QUALCOMM by 36.6% in the fourth quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after acquiring an additional 3,905,918 shares during the last quarter. Raymond James Financial Inc. bought a new stake in QUALCOMM in the fourth quarter valued at approximately $527,053,000. Northern Trust Corp boosted its holdings in QUALCOMM by 12.7% in the fourth quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock valued at $2,041,535,000 after acquiring an additional 1,493,076 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of QUALCOMM by 525.5% in the 4th quarter. Capital Research Global Investors now owns 1,413,495 shares of the wireless technology company's stock valued at $217,141,000 after purchasing an additional 1,187,531 shares during the last quarter. Institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM opened at $152.98 on Thursday. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The stock's fifty day simple moving average is $146.00 and its two-hundred day simple moving average is $157.22. QUALCOMM Incorporated has a 1-year low of $120.80 and a 1-year high of $230.63. The stock has a market cap of $167.97 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 2.01 and a beta of 1.29.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The wireless technology company reported $2.85 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.03. QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.58 billion. During the same period last year, the firm earned $2.44 earnings per share. The firm's revenue was up 17.0% on a year-over-year basis. As a group, analysts forecast that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 5th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $3.56 annualized dividend and a dividend yield of 2.33%. This is a boost from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is currently 36.25%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Loop Capital cut their price target 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. Robert W. Baird cut their target price on QUALCOMM from $250.00 to $216.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Citigroup cut their price target on QUALCOMM from $185.00 to $145.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, QUALCOMM has an average rating of "Hold" and a consensus price target of $192.08.

Insider Buying and Selling

In other QUALCOMM news, CAO Neil Martin sold 744 shares of QUALCOMM stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total value of $130,073.52. Following the sale, the chief accounting officer now owns 461 shares of the company's stock, valued at approximately $80,596.63. The trade was a 61.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 3,337 shares of QUALCOMM stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $156.82, for a total transaction of $523,308.34. Following the completion of the sale, the chief financial officer now directly owns 59,778 shares in the company, valued at $9,374,385.96. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,312 shares of company stock worth $1,948,379. 0.08% of the stock is owned by company insiders.

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.

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