QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,409,298 shares of the wireless technology company's stock after selling 5,792 shares during the period. Principal Financial Group Inc. owned 0.13% of QUALCOMM worth $216,496,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of QCOM. Reston Wealth Management LLC purchased a new position in QUALCOMM in the 3rd quarter valued at $26,000. CKW Financial Group purchased a new position in QUALCOMM in the 4th quarter valued at $27,000. Planning Capital Management Corp grew its position in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company's stock valued at $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc purchased a new position in QUALCOMM in the 3rd quarter valued at $36,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the 4th quarter valued at $38,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Trading Down 4.8 %

Shares of NASDAQ QCOM traded down $8.27 on Friday, reaching $165.43. 12,520,589 shares of the company traded hands, compared to its average volume of 7,784,163. QUALCOMM Incorporated has a fifty-two week low of $149.43 and a fifty-two week high of $230.63. The company has a 50 day moving average of $164.46 and a 200 day moving average of $165.72. 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 stock has a market capitalization of $182.97 billion, a PE ratio of 17.67, a P/E/G ratio of 2.03 and a beta of 1.25.

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

QUALCOMM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Thursday, March 6th. QUALCOMM's dividend payout ratio is currently 36.32%.

Insider Buying and Selling

In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were 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 approximately $10,716,927. This represents a 4.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 744 shares of the 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 sale, the chief accounting officer now directly owns 461 shares of the company's stock, valued at approximately $80,596.63. This trade represents a 61.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,708 shares of company stock valued at $7,713,734. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Melius assumed coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price objective on the stock. UBS Group raised their target price on QUALCOMM from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Barclays reduced their target price on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Melius Research began coverage on QUALCOMM in a report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Finally, Piper Sandler reduced their target price on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $205.32.

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.