E Fund Management Co. Ltd. reduced its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 48.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,056 shares of the wireless technology company’s stock after selling 32,538 shares during the quarter. E Fund Management Co. Ltd.’s holdings in QUALCOMM were worth $4,054,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of QUALCOMM by 97,298.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 654,605,268 shares of the wireless technology company’s stock valued at $77,924,211,000 after purchasing an additional 653,933,180 shares during the period. Moneta Group Investment Advisors LLC lifted its position in shares of QUALCOMM by 117,461.0% in the fourth 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 buying an additional 24,566,978 shares during the last quarter. Norges Bank acquired a new position in shares of QUALCOMM during the 4th quarter worth approximately $1,467,351,000. Cowa LLC bought a new stake in QUALCOMM in the 1st quarter valued at $94,000. Finally, Morgan Stanley lifted its holdings in 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. 71.10% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
QCOM has been the topic of several research analyst reports. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Friday, November 3rd. Mizuho restated a “buy” rating and set a $140.00 price objective on shares of QUALCOMM in a research report on Wednesday, August 23rd. UBS Group upped their target price on QUALCOMM from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Monday, July 24th. Morgan Stanley dropped their price target on QUALCOMM from $129.00 to $119.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $145.00 price objective on shares of QUALCOMM in a report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $137.85.
Insider Transactions at QUALCOMM
In related news, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $124.00, for a total transaction of $124,000.00. Following the completion of the transaction, the insider now directly owns 3,745 shares in the company, valued at approximately $464,380. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO James H. Thompson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $120.11, for a total value of $1,201,100.00. Following the completion of the transaction, the chief technology officer now owns 243,795 shares of the company’s stock, valued at $29,282,217.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James J. Cathey sold 1,000 shares of QUALCOMM stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $124.00, for a total transaction of $124,000.00. Following the sale, the insider now owns 3,745 shares in the company, valued at $464,380. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,963 shares of company stock valued at $5,377,298. 0.07% of the stock is currently owned by insiders.
QUALCOMM Price Performance
Shares of QCOM traded down $3.39 during midday trading on Tuesday, hitting $126.12. The company’s stock had a trading volume of 7,769,145 shares, compared to its average volume of 8,087,813. The company has a quick ratio of 1.67, a current ratio of 2.33 and a debt-to-equity ratio of 0.67. QUALCOMM Incorporated has a one year low of $101.47 and a one year high of $139.94. The stock has a market capitalization of $140.75 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.44 and a beta of 1.21. The company’s fifty day simple moving average is $113.68 and its two-hundred day simple moving average is $114.89.
QUALCOMM Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, November 29th. QUALCOMM’s payout ratio is 49.84%.
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.
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