Intech Investment Management LLC Sells 19,602 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Intech Investment Management LLC lessened its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 31.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 42,195 shares of the wireless technology company’s stock after selling 19,602 shares during the period. Intech Investment Management LLC’s holdings in QUALCOMM were worth $8,404,000 at the end of the most recent reporting period.

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

QUALCOMM Trading Down 2.9 %

NASDAQ QCOM opened at $168.92 on Friday. The firm has a market cap of $188.18 billion, a P/E ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. The stock’s 50-day moving average is $172.52 and its 200-day moving average is $182.01. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted 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. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. Sell-side analysts anticipate that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on QCOM shares. Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 17th. DZ Bank upgraded QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, August 2nd. Bank of America raised their price target on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 31st. Mizuho raised their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a report on Friday, May 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target (up previously from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average target price of $211.67.

Insider Buying and Selling

In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the completion of the transaction, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by corporate insiders.

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.