Sit Investment Associates Inc. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 57.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,139 shares of the wireless technology company's stock after selling 22,675 shares during the period. Sit Investment Associates Inc.'s holdings in QUALCOMM were worth $2,633,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of QUALCOMM by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock valued at $17,471,231,000 after acquiring an additional 707,468 shares during the period. Geode Capital Management LLC raised its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock valued at $4,262,826,000 after buying an additional 670,432 shares during the last quarter. Norges Bank acquired a new position in QUALCOMM in the fourth quarter valued at approximately $2,721,882,000. Amundi lifted its stake in shares of QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of QUALCOMM by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock valued at $1,485,575,000 after acquiring an additional 193,236 shares during the period. Institutional investors own 74.35% of the company's stock.
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Insiders Place Their Bets
In other news, insider Alexander H. Rogers sold 19,287 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the transaction, the insider now directly owns 20,762 shares of the company's stock, valued at $3,526,010.46. This represents a 48.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Neil Martin sold 744 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $174.83, for a total transaction of $130,073.52. Following the completion of the transaction, the chief accounting officer now owns 461 shares of the company's stock, valued at $80,596.63. This represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,749 shares of company stock worth $4,920,347. Company insiders own 0.08% of the company's stock.
QUALCOMM Stock Performance
Shares of NASDAQ:QCOM traded down $5.06 during trading on Tuesday, reaching $124.66. The company had a trading volume of 14,940,125 shares, compared to its average volume of 8,744,365. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. The stock's fifty day moving average price is $160.91 and its 200 day moving average price is $162.74. The firm has a market capitalization of $137.87 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.
QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 9.39 EPS for the current year.
QUALCOMM Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 36.32%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on QCOM shares. Benchmark reissued a "buy" rating and issued a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. Barclays cut their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Piper Sandler decreased their target price on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Evercore ISI decreased their target price on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com cut shares of QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.32.
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About QUALCOMM
(Free Report)
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.
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