Prudential PLC Sells 16,887 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Prudential PLC trimmed its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,096 shares of the wireless technology company's stock after selling 16,887 shares during the period. Prudential PLC's holdings in QUALCOMM were worth $14,455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in QUALCOMM during the 4th quarter worth approximately $26,000. CKW Financial Group acquired a new stake in QUALCOMM in the fourth quarter valued at about $27,000. Centricity Wealth Management LLC purchased a new stake in QUALCOMM in the 4th quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new position in QUALCOMM during the 4th quarter worth approximately $33,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $38,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Neil Martin sold 744 shares of the firm'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 value of $130,073.52. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Akash J. Palkhiwala sold 1,781 shares of the business's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $132.10, for a total value of $235,270.10. Following the completion of the sale, the chief financial officer now owns 57,997 shares of the company's stock, valued at approximately $7,661,403.70. This trade represents a 2.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,749 shares of company stock worth $4,920,347 over the last quarter. Corporate insiders own 0.08% of the company's stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded up $3.06 during trading on Tuesday, hitting $132.78. The stock had a trading volume of 4,093,995 shares, compared to its average volume of 8,702,417. The business has a fifty day moving average of $160.91 and a two-hundred day moving average of $162.74. The firm has a market cap of $146.86 billion, a P/E ratio of 14.21, a PEG ratio of 2.01 and a beta of 1.28. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.62 and a quick ratio of 1.99. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its earnings results 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 return on equity of 39.51% and a net margin of 25.94%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on QCOM. Rosenblatt Securities restated a "buy" rating and set a $250.00 target price on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reaffirmed a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a research note on Friday, February 7th. Melius started coverage on shares of QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price for the company. Evercore ISI lowered their price target on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating on the stock in a research report on Thursday, February 6th. Finally, Melius Research assumed coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price target for the company. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, QUALCOMM currently has a consensus rating of "Moderate Buy" and an average 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.