QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 59.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,171 shares of the wireless technology company’s stock after selling 139,248 shares during the quarter. River Road Asset Management LLC’s holdings in QUALCOMM were worth $13,475,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of QUALCOMM by 0.4% during the third quarter. Vanguard Group Inc. now owns 110,717,388 shares of the wireless technology company’s stock worth $12,296,273,000 after purchasing an additional 483,390 shares during the period. State Street Corp raised its position in QUALCOMM by 2.5% in the first quarter. State Street Corp now owns 48,492,351 shares of the wireless technology company’s stock worth $6,186,652,000 after acquiring an additional 1,183,406 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in 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 worth $2,703,193,000 after acquiring an additional 24,566,978 shares in the last quarter. Morgan Stanley raised its position in QUALCOMM by 22.2% in the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after acquiring an additional 3,929,586 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in QUALCOMM by 7.0% in the second quarter. Alliancebernstein L.P. now owns 18,042,933 shares of the wireless technology company’s stock worth $2,147,831,000 after acquiring an additional 1,178,546 shares in the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on QCOM. Evercore ISI began coverage on QUALCOMM in a research report on Tuesday. They issued an “in-line” rating and a $177.00 price objective for the company. Citigroup cut QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research 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 research report on Thursday, February 1st. TD Cowen raised their price target on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Piper Sandler raised their price target on QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $156.90.

Insiders Place Their Bets

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $173.49, for a total value of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $168.27, for a total value of $1,346,160.00. Following the transaction, the chief technology officer now directly owns 261,893 shares of the company’s stock, valued at approximately $44,068,735.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $173.49, for a total value of $520,470.00. Following the completion of the transaction, the chief financial officer now directly owns 69,343 shares in the company, valued at $12,030,317.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,360 shares of company stock valued at $7,184,678. Insiders own 0.08% of the company’s stock.

QUALCOMM Trading Down 0.4 %

QUALCOMM stock opened at $163.70 on Thursday. The stock has a 50-day moving average price of $164.47 and a 200 day moving average price of $142.20. 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 Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The stock has a market cap of $182.69 billion, a PE ratio of 23.81, a P/E/G ratio of 2.30 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. Equities research analysts predict that QUALCOMM Incorporated will post 7.69 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. Shareholders of record on Thursday, May 30th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.08%. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio (DPR) is presently 46.38%.

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.