AMF Tjanstepension AB Sells 419,918 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

AMF Tjanstepension AB cut its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 47.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 472,032 shares of the wireless technology company's stock after selling 419,918 shares during the period. AMF Tjanstepension AB's holdings in QUALCOMM were worth $80,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WFA Asset Management Corp acquired a new position in QUALCOMM during the first quarter worth $27,000. HWG Holdings LP acquired a new position in shares of QUALCOMM during the 2nd quarter worth about $30,000. Financial Connections Group Inc. bought a new position in shares of QUALCOMM in the 2nd quarter valued at about $32,000. Aspect Partners LLC increased its position in shares of QUALCOMM by 71.8% in the second quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company's stock valued at $35,000 after acquiring an additional 74 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new stake in QUALCOMM during the first quarter worth about $37,000. 74.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on QCOM. TD Cowen upgraded QUALCOMM to a "strong-buy" rating in a research note on Monday, September 16th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $215.00 target price on shares of QUALCOMM in a research report on Thursday, August 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a report on Thursday, August 1st. DZ Bank raised QUALCOMM from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a report on Friday, August 2nd. Finally, KeyCorp upped their price target on shares of QUALCOMM from $205.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, QUALCOMM presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.67.

QUALCOMM Stock Up 0.4 %

Shares of QCOM stock traded up $0.60 on Thursday, reaching $168.92. 5,994,096 shares of the company were exchanged, compared to its average volume of 9,175,707. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.39 and a quick ratio of 1.78. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The company has a 50-day moving average of $168.35 and a 200-day moving average of $182.05. The company has a market cap of $188.18 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.86 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, beating 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 firm had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Analysts anticipate that QUALCOMM Incorporated will post 8.02 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th were issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 5th. QUALCOMM's payout ratio is 45.70%.

Insider Activity

In related news, insider Alexander H. Rogers sold 3,245 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the sale, the insider now directly owns 32,231 shares of the company's stock, valued at $5,355,180.65. The sale was disclosed in a legal 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 company's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $165.95, for a total value of $497,850.00. Following the sale, the chief financial officer now owns 51,437 shares in the company, valued at approximately $8,535,970.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander H. Rogers sold 3,245 shares of QUALCOMM stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $166.15, for a total value of $539,156.75. Following the completion of the sale, the insider now directly owns 32,231 shares of the company's stock, valued at approximately $5,355,180.65. The disclosure for this sale can be found here. Insiders sold 25,245 shares of company stock worth $4,296,237 in the last three months. Corporate 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.