QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,127 shares of the wireless technology company's stock after selling 11,564 shares during the period. QUALCOMM makes up about 1.6% of Meeder Asset Management Inc.'s holdings, making the stock its 15th largest holding. Meeder Asset Management Inc.'s holdings in QUALCOMM were worth $23,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. ARGA Investment Management LP lifted its position in shares of QUALCOMM by 18.8% during the 3rd quarter. ARGA Investment Management LP now owns 6,338 shares of the wireless technology company's stock worth $1,078,000 after purchasing an additional 1,001 shares during the last quarter. Semmax Financial Advisors Inc. lifted its holdings in QUALCOMM by 57.8% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 10,600 shares of the wireless technology company's stock worth $1,732,000 after buying an additional 3,884 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of QUALCOMM during the 3rd quarter worth about $15,657,000. B&L Asset Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter valued at about $632,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of QUALCOMM during the 3rd quarter worth about $775,000. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

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QUALCOMM Trading Up 0.7 %

Shares of NASDAQ QCOM traded up $1.03 during midday trading on Wednesday, reaching $154.08. 5,331,926 shares of the stock were exchanged, compared to its average volume of 8,588,496. 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 company has a market capitalization of $170.41 billion, a P/E ratio of 16.46, a P/E/G ratio of 2.01 and a beta of 1.28. The stock has a 50 day moving average price of $163.66 and a 200-day moving average price of $163.64. QUALCOMM Incorporated has a 52-week low of $147.88 and a 52-week high of $230.63.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a return on equity of 39.51% and a net margin of 25.94%. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 6th were given a $0.85 dividend. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a dividend yield of 2.21%. QUALCOMM's dividend payout ratio is presently 36.32%.

Insider Buying and Selling

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the completion of the sale, the insider now owns 20,762 shares of the company's stock, valued at approximately $3,526,010.46. The trade was a 48.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the completion of the transaction, the insider now owns 24,393 shares in the company, valued at approximately $3,762,376.32. This trade represents a 6.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,968 shares of company stock valued at $4,685,077. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several recent analyst reports. Piper Sandler dropped their price target on shares of QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price objective on shares of QUALCOMM in a research note on Thursday, February 6th. Melius began coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 target price on the stock. Melius Research began coverage on QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 target price for the company. Finally, Barclays cut their price target on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $205.32.

About QUALCOMM

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.