Ensign Peak Advisors Inc Sells 16,910 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Ensign Peak Advisors Inc decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 782,900 shares of the wireless technology company’s stock after selling 16,910 shares during the period. Ensign Peak Advisors Inc owned approximately 0.07% of QUALCOMM worth $155,938,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Gilbert & Cook Inc. grew its holdings in shares of QUALCOMM by 7.3% in the 4th quarter. Gilbert & Cook Inc. now owns 5,254 shares of the wireless technology company’s stock valued at $760,000 after buying an additional 356 shares during the period. Gryphon Financial Partners LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $334,000. Quest Partners LLC acquired a new position in shares of QUALCOMM in the 4th quarter valued at $375,000. Avantax Planning Partners Inc. boosted its stake in shares of QUALCOMM by 1.5% during the 4th quarter. Avantax Planning Partners Inc. now owns 5,115 shares of the wireless technology company’s stock worth $740,000 after buying an additional 75 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its stake in shares of QUALCOMM by 10.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 72,297 shares of the wireless technology company’s stock worth $10,051,000 after buying an additional 6,675 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on QCOM. Barclays increased their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of QUALCOMM from $155.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Susquehanna upped their target price on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. dropped their target price on shares of QUALCOMM from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Price Performance

QUALCOMM stock opened at $168.92 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $188.51 billion, a PE ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. The stock has a 50-day moving average price of $172.52 and a two-hundred day moving average price of $182.01.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. Analysts expect that QUALCOMM Incorporated will post 8 EPS for the current year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a dividend of $0.85 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $160.50, for a total value of $1,284,000.00. Following the completion of the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at $36,912,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total value of $1,284,000.00. Following the transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock valued at $3,496,590 over the last 90 days. Company insiders own 0.08% of the company’s stock.

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.