Korea Investment CORP Lowers Stock Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Korea Investment CORP decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.1% in the 4th quarter, Holdings Channel reports. The firm owned 877,616 shares of the wireless technology company’s stock after selling 109,849 shares during the period. Korea Investment CORP’s holdings in QUALCOMM were worth $134,819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at about $26,000. CKW Financial Group purchased a new stake in QUALCOMM during the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $29,000. CoreFirst Bank & Trust purchased a new position in shares of QUALCOMM in the 4th quarter valued at approximately $33,000. Finally, Synergy Asset Management LLC acquired a new position in shares of QUALCOMM in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

QUALCOMM Price Performance

QUALCOMM stock opened at $158.39 on Thursday. QUALCOMM Incorporated has a 1 year low of $149.43 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a 50 day moving average price of $164.47 and a 200 day moving average price of $163.92. The company has a market cap of $175.18 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 2.01 and a beta of 1.28.

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

QUALCOMM Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QCOM. Barclays lowered their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Benchmark reiterated a “buy” rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Evercore ISI reduced their price objective 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. Piper Sandler dropped their target price on QUALCOMM from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of QUALCOMM in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average target price of $205.32.

Insider Activity at QUALCOMM

In other news, insider Alexander H. Rogers sold 19,287 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value of $3,275,511.21. Following the completion of the transaction, the insider now directly owns 20,762 shares in the company, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the sale, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This trade represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 27,968 shares of company stock worth $4,685,077. Corporate insiders own 0.08% of the company’s stock.

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.