QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 14.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,875,185 shares of the wireless technology company’s stock after selling 328,818 shares during the quarter. QUALCOMM accounts for 0.8% of Thrivent Financial for Lutherans’ portfolio, making the stock its 9th largest holding. Thrivent Financial for Lutherans owned 0.17% of QUALCOMM worth $373,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its stake in QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after acquiring an additional 1,909,025 shares in the last quarter. Matrix Capital Management Company LP acquired a new position in QUALCOMM during the 1st quarter worth $1,171,516,000. Putnam Investments LLC boosted its stake in QUALCOMM by 4.3% during the 4th quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after purchasing an additional 263,482 shares during the period. Van ECK Associates Corp increased its position in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock worth $997,210,000 after acquiring an additional 1,519,781 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of QUALCOMM by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after buying an additional 173,673 shares during the last quarter. 74.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Mizuho upped their price objective on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Bank of America increased their price objective on QUALCOMM from $180.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Wolfe Research cut shares of QUALCOMM from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 12th. DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $215.00 target price on shares of QUALCOMM in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $211.67.

QUALCOMM Price Performance

QUALCOMM stock opened at $168.92 on Friday. The stock has a market cap of $188.51 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 quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average price is $172.52 and its two-hundred day moving average price is $182.01. QUALCOMM Incorporated has a 52 week low of $104.33 and a 52 week high of $230.63.

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

QUALCOMM Dividend Announcement

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

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.