Mizuho Markets Americas LLC cut its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM – Free Report) by 63.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,681 shares of the wireless technology company’s stock after selling 15,074 shares during the quarter. Mizuho Markets Americas LLC’s holdings in QUALCOMM were worth $1,470,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of QCOM. Norges Bank bought a new stake in shares of QUALCOMM during the 4th quarter worth $2,507,978,000. International Assets Investment Management LLC boosted its stake in shares of QUALCOMM by 12,998.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock worth $434,780,000 after acquiring an additional 2,983,206 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of QUALCOMM by 1,543.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after buying an additional 2,659,323 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of QUALCOMM by 34.8% in 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 buying an additional 1,519,781 shares during the period. 74.35% of the stock is owned by institutional investors.
Insider Transactions at QUALCOMM
In other news, Director Sylvia Acevedo sold 2,056 shares of QUALCOMM stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now directly owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related 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 transaction, the chief financial officer now directly 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 available at this hyperlink. Also, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,185 shares of company stock worth $8,552,835. Company insiders own 0.08% of the company’s stock.
QUALCOMM Stock Performance
QUALCOMM (NASDAQ:QCOM – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. As a group, equities research analysts predict that QUALCOMM Incorporated will post 7.84 earnings per share for the current year.
QUALCOMM Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. 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 1.83%. QUALCOMM’s payout ratio is presently 45.70%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on QCOM. Tigress Financial raised their target price on QUALCOMM from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. TD Cowen raised their target price on QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Susquehanna raised their target price on QUALCOMM from $205.00 to $250.00 and gave the stock a “positive” rating in a research report on Wednesday. Robert W. Baird raised their target price on QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, Barclays raised their target price on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $197.54.
Check Out Our Latest Stock Report on QCOM
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.
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