QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. lowered its holdings in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 57.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,139 shares of the wireless technology company's stock after selling 22,675 shares during the quarter. Sit Investment Associates Inc.'s holdings in QUALCOMM were worth $2,633,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in QCOM. Vanguard Group Inc. grew its position in QUALCOMM by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 113,730,186 shares of the wireless technology company's stock worth $17,471,231,000 after buying an additional 707,468 shares during the period. Geode Capital Management LLC boosted its stake in shares of QUALCOMM by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 27,798,900 shares of the wireless technology company's stock worth $4,262,826,000 after acquiring an additional 670,432 shares in the last quarter. Norges Bank purchased a new position in QUALCOMM in the 4th quarter valued at approximately $2,721,882,000. Amundi increased its stake in QUALCOMM by 36.6% in the 4th quarter. Amundi now owns 14,579,529 shares of the wireless technology company's stock valued at $2,313,634,000 after purchasing an additional 3,905,918 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in QUALCOMM by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 9,670,451 shares of the wireless technology company's stock worth $1,485,575,000 after purchasing an additional 193,236 shares during the last quarter. 74.35% of the stock is currently owned by hedge funds and other institutional investors.

QUALCOMM Stock Down 8.6 %

Shares of NASDAQ:QCOM opened at $127.46 on Monday. The stock has a 50-day simple moving average of $161.74 and a 200-day simple moving average of $163.05. The stock has a market capitalization of $140.97 billion, a P/E ratio of 13.62, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 1 year low of $123.11 and a 1 year high of $230.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.99 and a current ratio of 2.62.

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

QUALCOMM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th were paid a $0.85 dividend. The ex-dividend date of this dividend was Thursday, March 6th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.67%. QUALCOMM's dividend payout ratio (DPR) is currently 36.32%.

Insider Activity at QUALCOMM

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $169.83, for a total value 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 $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 63,115 shares of the company's stock, valued at $10,716,927. This trade represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,968 shares of company stock worth $4,685,077. 0.08% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated a "neutral" rating and issued a $160.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Evercore ISI dropped their target price on shares of QUALCOMM from $199.00 to $179.00 and set an "in-line" rating for the company in a report on Thursday, February 6th. Melius Research initiated 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. Melius began coverage on shares of QUALCOMM in a research report on Monday, December 9th. They issued a "hold" rating and a $180.00 price target on the stock. Finally, Barclays cut their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, QUALCOMM presently has an average rating of "Moderate Buy" and a consensus 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.

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