Primecap Management Co. CA Has $640.27 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Primecap Management Co. CA reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 14.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,167,852 shares of the wireless technology company’s stock after selling 717,801 shares during the quarter. Primecap Management Co. CA owned approximately 0.38% of QUALCOMM worth $640,265,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlanta Consulting Group Advisors LLC acquired a new position in QUALCOMM during the 3rd quarter worth $523,000. TrinityPoint Wealth LLC lifted its holdings in QUALCOMM by 0.5% during the 3rd quarter. TrinityPoint Wealth LLC now owns 19,798 shares of the wireless technology company’s stock worth $3,367,000 after buying an additional 95 shares in the last quarter. Aljian Capital Management LLC acquired a new position in QUALCOMM during the 3rd quarter worth $1,820,000. Richard C. Young & CO. LTD. lifted its holdings in QUALCOMM by 44.1% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 53,712 shares of the wireless technology company’s stock worth $9,134,000 after buying an additional 16,430 shares in the last quarter. Finally, GLOBALT Investments LLC GA lifted its holdings in QUALCOMM by 16.3% during the 3rd quarter. GLOBALT Investments LLC GA now owns 1,396 shares of the wireless technology company’s stock worth $237,000 after buying an additional 196 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on QCOM. Melius Research began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Piper Sandler dropped their target price on shares of QUALCOMM from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a “hold” rating and a $180.00 target price for the company. Finally, Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM currently has an average rating of “Moderate Buy” and an average price target of $205.32.

QUALCOMM Trading Up 0.9 %

Shares of QCOM stock opened at $157.95 on Tuesday. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month high of $230.63. The firm has a 50 day moving average price of $164.64 and a two-hundred day moving average price of $164.32. The company has a market capitalization of $174.69 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. As a group, analysts predict that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.15%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Insider Transactions at QUALCOMM

In related news, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. The trade was a 6.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the transaction, the insider now owns 20,762 shares in the company, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,968 shares of company stock worth $4,685,077. Company insiders own 0.08% of the company’s stock.

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.