Massachusetts Financial Services Co. MA Lowers Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Massachusetts Financial Services Co. MA reduced its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 24.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,477,529 shares of the wireless technology company's stock after selling 490,625 shares during the period. Massachusetts Financial Services Co. MA owned about 0.13% of QUALCOMM worth $226,978,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of QCOM. May Hill Capital LLC bought a new position in QUALCOMM during the fourth quarter worth about $206,000. Geode Capital Management LLC lifted 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 in the last quarter. StoneX Group Inc. grew its stake in QUALCOMM by 8.3% in the 4th quarter. StoneX Group Inc. now owns 22,488 shares of the wireless technology company's stock valued at $3,455,000 after buying an additional 1,714 shares in the last quarter. Nemes Rush Group LLC raised its holdings in QUALCOMM by 5.4% during the 4th quarter. Nemes Rush Group LLC now owns 95,929 shares of the wireless technology company's stock valued at $14,737,000 after acquiring an additional 4,877 shares during the period. Finally, Tradewinds LLC. purchased a new stake in shares of QUALCOMM during the fourth quarter worth $366,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Trading Down 8.6 %

Shares of NASDAQ QCOM traded down $11.96 during mid-day trading on Friday, hitting $127.46. The stock had a trading volume of 19,007,907 shares, compared to its average volume of 8,671,956. The business has a 50 day moving average price of $161.74 and a two-hundred day moving average price of $163.13. QUALCOMM Incorporated has a 1 year low of $125.51 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62. The firm has a market cap of $140.97 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28.

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QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share (EPS) 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%. On average, equities analysts anticipate that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.67%. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Evercore ISI cut their price target on QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. Barclays cut their price objective on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research 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 report on Thursday, February 6th. Finally, Cantor Fitzgerald reissued a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a report on Thursday, February 6th. One equities research 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 stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.32.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the business's 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 transaction, the chief accounting officer now owns 461 shares in the company, valued at $80,596.63. The trade was a 61.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the completion of the sale, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,968 shares of company stock valued at $4,685,077. Company insiders own 0.08% of the company's stock.

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.