River Global Investors LLP Sells 878 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

River Global Investors LLP cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 5.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,989 shares of the wireless technology company’s stock after selling 878 shares during the quarter. River Global Investors LLP’s holdings in QUALCOMM were worth $2,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QCOM. Peoples Bank OH bought a new position in shares of QUALCOMM during the fourth quarter valued at approximately $219,000. HF Advisory Group LLC bought a new position in shares of QUALCOMM during the third quarter valued at $629,000. Bank Hapoalim BM boosted its position in shares of QUALCOMM by 35.0% during the fourth quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock valued at $5,123,000 after buying an additional 9,192 shares during the last quarter. NewEdge Wealth LLC increased its holdings in QUALCOMM by 120.2% in the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after buying an additional 11,285 shares in the last quarter. Finally, 1834 Investment Advisors Co. raised its position in QUALCOMM by 6.6% in the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after buying an additional 2,818 shares during the last quarter. 74.35% of the stock is owned by hedge funds and other institutional investors.

QUALCOMM Price Performance

QUALCOMM stock traded down $0.46 during mid-day trading on Friday, hitting $179.64. The stock had a trading volume of 10,043,912 shares, compared to its average volume of 8,171,053. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $183.19. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $200.48 billion, a P/E ratio of 24.15, a P/E/G ratio of 2.47 and a beta of 1.33. The firm’s 50 day moving average is $167.69 and its 200 day moving average is $146.59.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.90 by $0.43. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The business had revenue of $9.94 billion for the quarter, compared to the consensus estimate of $9.50 billion. On average, sell-side analysts forecast that QUALCOMM Incorporated will post 7.64 earnings per share for the current fiscal year.

QUALCOMM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.89%. QUALCOMM’s payout ratio is currently 43.01%.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other QUALCOMM news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the transaction, the chief technology officer now owns 253,893 shares of the company’s stock, valued at $46,208,526. The disclosure for this sale can be found here. Insiders sold 44,260 shares of company stock worth $7,429,728 in the last three months. 0.08% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on QCOM. Susquehanna raised their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. UBS Group lifted their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday. Benchmark reissued a “buy” rating and set a $200.00 price target on shares of QUALCOMM in a report on Friday. Wolfe Research lifted their price objective on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $190.00 price objective on shares of QUALCOMM in a research report on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.36.

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.