Polar Capital Holdings Plc Sells 448,633 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Polar Capital Holdings Plc trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 77.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,516 shares of the wireless technology company's stock after selling 448,633 shares during the period. Polar Capital Holdings Plc's holdings in QUALCOMM were worth $19,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after purchasing an additional 707,468 shares in the last quarter. Geode Capital Management LLC increased its holdings in QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after purchasing an additional 670,432 shares in the last quarter. Norges Bank bought a new stake in QUALCOMM during the 4th quarter worth approximately $2,721,882,000. Amundi increased its holdings in QUALCOMM by 36.6% during the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock worth $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in QUALCOMM by 12.7% during the 4th quarter. Northern Trust Corp now owns 13,289,513 shares of the wireless technology company's stock worth $2,041,535,000 after purchasing an additional 1,493,076 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 269 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $131.10, for a total value of $35,265.90. Following the sale, the chief financial officer now owns 57,728 shares in the company, valued at approximately $7,568,140.80. This trade represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Neil Martin sold 744 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $174.83, for a total value of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. This trade represents a 61.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,312 shares of company stock worth $1,948,379. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Trading Down 0.2%

NASDAQ:QCOM opened at $152.61 on Friday. The company has a market cap of $167.57 billion, a P/E ratio of 16.30, a P/E/G ratio of 2.01 and a beta of 1.29. The stock's fifty day moving average price is $145.95 and its two-hundred day moving average price is $157.08. QUALCOMM Incorporated has a 1 year low of $120.80 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99.

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

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 5th will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Thursday, June 5th. This is an increase from QUALCOMM's previous quarterly dividend of $0.85. QUALCOMM's dividend payout ratio (DPR) is 36.25%.

Analyst Upgrades and Downgrades

A number of analysts have commented on QCOM shares. TD Cowen decreased their price objective on QUALCOMM from $195.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Barclays decreased their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Rosenblatt Securities restated a "buy" rating and issued a $225.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Cantor Fitzgerald restated a "neutral" rating and issued a $150.00 target price on shares of QUALCOMM in a research note on Thursday, May 1st. Finally, Seaport Res Ptn upgraded QUALCOMM to a "hold" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, QUALCOMM currently has a consensus rating of "Hold" and a consensus target price of $192.08.

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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