FIL Ltd Has $195.57 Million Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

FIL Ltd reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 12.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,273,097 shares of the wireless technology company’s stock after selling 183,452 shares during the period. FIL Ltd owned about 0.12% of QUALCOMM worth $195,573,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of QUALCOMM by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company’s stock valued at $17,471,231,000 after purchasing an additional 707,468 shares during the period. 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 acquiring an additional 670,432 shares during the period. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter valued at $2,721,882,000. Amundi increased its holdings in shares of QUALCOMM by 36.6% in the fourth 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 during the period. Finally, Bank of New York Mellon Corp raised its position in shares of QUALCOMM by 2.0% in the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company’s stock worth $1,485,575,000 after buying an additional 193,236 shares in the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on QCOM shares. Barclays dropped their price target on QUALCOMM from $200.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Benchmark reissued a “buy” rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. StockNews.com downgraded QUALCOMM from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Evercore ISI cut their price objective on QUALCOMM from $199.00 to $179.00 and set an “in-line” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given 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 Stock Down 3.9 %

Shares of NASDAQ:QCOM opened at $124.66 on Wednesday. The business’s 50 day moving average is $159.04 and its 200 day moving average is $162.17. The stock has a market cap of $137.87 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 52-week low of $120.80 and a 52-week high of $230.63. 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 quarterly 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 net margin of 25.94% and a return on equity of 39.51%. Sell-side analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.73%. QUALCOMM’s dividend payout ratio is presently 36.32%.

Insider Activity at QUALCOMM

In related news, CAO Neil Martin sold 744 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the sale, the chief accounting officer now owns 461 shares of the company’s stock, valued at $80,596.63. This represents a 61.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander H. Rogers sold 19,287 shares of the 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 sale, the insider now owns 20,762 shares of the company’s stock, valued at approximately $3,526,010.46. This represents a 48.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,018 shares of company stock valued at $4,955,613 over the last ninety days. 0.08% of the stock is owned by company insiders.

QUALCOMM Company 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.