Barrow Hanley Mewhinney & Strauss LLC Sells 968,118 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Barrow Hanley Mewhinney & Strauss LLC decreased its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 20.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,695,560 shares of the wireless technology company’s stock after selling 968,118 shares during the quarter. QUALCOMM makes up 2.5% of Barrow Hanley Mewhinney & Strauss LLC’s holdings, making the stock its 5th biggest position. Barrow Hanley Mewhinney & Strauss LLC owned about 0.33% of QUALCOMM worth $736,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. WFA Asset Management Corp purchased a new position in QUALCOMM in the 1st quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in shares of QUALCOMM in the second quarter valued at about $32,000. Aspect Partners LLC lifted its stake in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock worth $35,000 after buying an additional 74 shares in the last quarter. Richardson Capital Management LLC acquired a new position in QUALCOMM during the first quarter worth about $37,000. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in QUALCOMM during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Buying and Selling at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction dated Friday, July 5th. The shares were 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 in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM 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 sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the company’s 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 completion of the transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. The disclosure for this sale can be found here. Insiders sold a total of 19,000 shares of company stock valued at $3,496,590 in the last ninety days. Company insiders own 0.08% of the company’s stock.

QUALCOMM Stock Down 2.9 %

QUALCOMM stock opened at $168.92 on Friday. 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 firm has a fifty day moving average price of $172.52 and a two-hundred day moving average price of $182.16. The firm has a market cap of $188.51 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.82 and a beta of 1.28. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (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 analyst estimates of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, analysts forecast that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The business 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. This represents a $3.40 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is currently 45.70%.

Analyst Upgrades and Downgrades

QCOM has been the topic of several recent research reports. Tigress Financial boosted their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on QUALCOMM from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. HSBC downgraded QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Wednesday, July 17th. Barclays boosted their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, TD Cowen upgraded shares of QUALCOMM to a “strong-buy” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $211.67.

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.