Nepsis Inc. Decreases Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Nepsis Inc. reduced its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,367 shares of the wireless technology company’s stock after selling 13,790 shares during the quarter. QUALCOMM accounts for about 5.0% of Nepsis Inc.’s investment portfolio, making the stock its 7th largest position. Nepsis Inc.’s holdings in QUALCOMM were worth $17,409,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QCOM. Vanguard Group Inc. increased its position in shares of QUALCOMM by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock valued at $12,296,273,000 after purchasing an additional 483,390 shares during the last quarter. BlackRock Inc. increased its position in shares of QUALCOMM by 1.4% during the 2nd quarter. BlackRock Inc. now owns 85,088,444 shares of the wireless technology company’s stock valued at $10,128,928,000 after purchasing an additional 1,191,089 shares during the last quarter. State Street Corp increased its position in shares of QUALCOMM by 1.1% during the 2nd quarter. State Street Corp now owns 49,042,212 shares of the wireless technology company’s stock valued at $5,837,985,000 after purchasing an additional 549,861 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors.

QUALCOMM Stock Up 1.2 %

NASDAQ:QCOM traded up $2.06 during trading hours on Wednesday, reaching $169.13. 6,309,214 shares of the company traded hands, compared to its average volume of 9,062,348. The business’s 50-day moving average price is $157.05 and its two-hundred day moving average price is $135.64. The stock has a market capitalization of $188.75 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.29 and a beta of 1.41. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Analysts predict that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, February 29th were issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s payout ratio is 46.38%.

Insiders Place Their Bets

In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of QUALCOMM stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the sale, the chief executive officer now owns 16,200 shares of the company’s stock, valued at approximately $2,747,520. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Neil Martin sold 689 shares of QUALCOMM stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $160.64, for a total value of $110,680.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,360 shares of company stock valued at $5,457,048. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on QCOM shares. TD Cowen raised their price target on QUALCOMM from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price objective on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, February 1st. KeyCorp increased their price objective on QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Rosenblatt Securities increased their price objective on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.71.

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.