Susquehanna Portfolio Strategies LLC Decreases Stake in QUALCOMM Incorporated (NASDAQ:QCOM)

Susquehanna Portfolio Strategies LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 17.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,816 shares of the wireless technology company's stock after selling 14,500 shares during the period. Susquehanna Portfolio Strategies LLC's holdings in QUALCOMM were worth $13,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Matrix Capital Management Company LP purchased a new stake in QUALCOMM in the first quarter worth about $1,171,516,000. Massachusetts Financial Services Co. MA increased its holdings in QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company's stock worth $641,221,000 after acquiring an additional 3,047,947 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in QUALCOMM by 8.1% during the 4th 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 acquiring an additional 1,909,025 shares during the period. Van ECK Associates Corp lifted its holdings in QUALCOMM by 34.8% during the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company's stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new position in QUALCOMM during the first quarter valued at approximately $238,770,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on QCOM shares. Tigress Financial raised their price objective on shares of QUALCOMM from $238.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, June 21st. Bank of America upped their price objective on QUALCOMM from $180.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, May 31st. Mizuho lifted their target price on QUALCOMM from $180.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, May 31st. Hsbc Global Res downgraded QUALCOMM from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, KeyCorp lifted their price objective on shares of QUALCOMM from $205.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.67.

QUALCOMM Trading Down 1.5 %

Shares of QUALCOMM stock traded down $2.53 during trading on Friday, hitting $170.13. The stock had a trading volume of 5,880,662 shares, compared to its average volume of 8,737,132. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63. 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's fifty day simple moving average is $169.66 and its 200-day simple moving average is $181.99. The stock has a market cap of $189.52 billion, a PE ratio of 22.87, a PEG ratio of 1.83 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.23 billion. As a group, sell-side analysts expect that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were paid a $0.85 dividend. The ex-dividend date was Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a yield of 2.00%. QUALCOMM's payout ratio is 45.70%.

Insider Transactions at QUALCOMM

In related news, CTO James H. Thompson sold 8,000 shares of the firm's stock in a transaction dated 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 transaction, the chief technology officer now owns 229,987 shares of the company's stock, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction dated 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 transaction, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The sale was disclosed in a legal 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 that occurred on 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is currently owned by insiders.

QUALCOMM Company 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.