Loomis Sayles & Co. L P Reduces Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Loomis Sayles & Co. L P lowered its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,741,120 shares of the wireless technology company's stock after selling 200,312 shares during the quarter. QUALCOMM comprises 95.3% of Loomis Sayles & Co. L P's investment portfolio, making the stock its 20th largest holding. Loomis Sayles & Co. L P owned approximately 0.52% of QUALCOMM worth $881,951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in QCOM. Kohmann Bosshard Financial Services LLC purchased a new position in shares of QUALCOMM during the fourth quarter worth about $26,000. CKW Financial Group purchased a new position in QUALCOMM in the 4th quarter worth approximately $27,000. Centricity Wealth Management LLC bought a new position in shares of QUALCOMM in the 4th quarter worth $29,000. CoreFirst Bank & Trust bought a new stake in shares of QUALCOMM during the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the fourth quarter worth $38,000. 74.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred 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 sale, the insider now owns 20,762 shares in the company, valued at $3,526,010.46. This represents a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Neil Martin sold 744 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was 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 approximately $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,968 shares of company stock worth $4,685,077 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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QUALCOMM Stock Down 3.3 %

QCOM traded down $5.25 during trading on Friday, reaching $152.72. The stock had a trading volume of 8,915,861 shares, compared to its average volume of 8,605,322. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $168.91 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 2.01 and a beta of 1.28. The stock's 50 day moving average is $164.16 and its two-hundred day moving average is $163.84. QUALCOMM Incorporated has a one year low of $149.43 and a one year high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing analysts' consensus estimates 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, analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.23%. QUALCOMM's dividend payout ratio is currently 36.32%.

Analyst Upgrades and Downgrades

QCOM has been the topic of a number of research reports. Melius assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Evercore ISI decreased their price objective on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a report on Thursday, February 6th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Mizuho reduced their price target on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 7th. Finally, Benchmark restated a "buy" rating and issued a $240.00 price objective on shares of QUALCOMM in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $205.32.

QUALCOMM Profile

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.