River Global Investors LLP Sells 6,477 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

River Global Investors LLP lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,987 shares of the wireless technology company's stock after selling 6,477 shares during the period. River Global Investors LLP's holdings in QUALCOMM were worth $1,381,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Generali Investments CEE investicni spolecnost a.s. purchased a new position in QUALCOMM in the 4th quarter worth approximately $3,825,000. Banco Santander S.A. lifted its holdings in shares of QUALCOMM by 16.3% in the 4th quarter. Banco Santander S.A. now owns 218,686 shares of the wireless technology company's stock worth $33,595,000 after acquiring an additional 30,674 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of QUALCOMM by 4.6% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 44,575 shares of the wireless technology company's stock worth $7,537,000 after acquiring an additional 1,962 shares during the last quarter. Machina Capital S.A.S. lifted its holdings in shares of QUALCOMM by 181.5% in the 4th quarter. Machina Capital S.A.S. now owns 10,406 shares of the wireless technology company's stock worth $1,599,000 after acquiring an additional 6,709 shares during the last quarter. Finally, Oak Hill Wealth Advisors LLC lifted its holdings in shares of QUALCOMM by 200.9% in the 4th quarter. Oak Hill Wealth Advisors LLC now owns 3,759 shares of the wireless technology company's stock worth $577,000 after acquiring an additional 7,483 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

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Insider Transactions at QUALCOMM

In related news, CFO Akash J. Palkhiwala sold 3,337 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $156.82, for a total transaction of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company's stock, valued at approximately $9,374,385.96. This represents a 5.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander H. Rogers sold 19,287 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $169.83, for a total transaction of $3,275,511.21. Following the sale, the insider now directly owns 20,762 shares in the company, valued at $3,526,010.46. This trade represents a 48.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,045 shares of company stock valued at $7,752,423 in the last three months. 0.08% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on QCOM shares. Loop Capital started coverage on shares of QUALCOMM in a report on Monday, November 11th. They issued a "hold" rating and a $180.00 price objective for the company. StockNews.com upgraded shares of QUALCOMM from a "buy" rating to a "strong-buy" rating in a report on Tuesday, March 4th. Mizuho lowered their price objective on shares of QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Finally, Benchmark reiterated a "buy" rating and set a $240.00 price target on shares of QUALCOMM in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, QUALCOMM has an average rating of "Moderate Buy" and a consensus price target of $205.32.

QUALCOMM Stock Up 3.3 %

Shares of NASDAQ:QCOM traded up $5.18 during midday trading on Friday, reaching $161.22. The company's stock had a trading volume of 8,725,530 shares, compared to its average volume of 8,297,443. The firm has a 50 day moving average of $164.76 and a 200-day moving average of $165.09. The firm has a market capitalization of $178.31 billion, a P/E ratio of 17.22, a PEG ratio of 2.01 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12-month low of $149.43 and a 12-month 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 earnings per share 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, research analysts anticipate that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 6th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, March 6th. QUALCOMM's dividend payout ratio is presently 36.32%.

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.