QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 23.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 28,901 shares of the wireless technology company's stock after selling 8,650 shares during the period. Te Ahumairangi Investment Management Ltd's holdings in QUALCOMM were worth $4,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in QCOM. Kohmann Bosshard Financial Services LLC purchased a new stake in QUALCOMM in the 4th quarter valued at approximately $26,000. CKW Financial Group acquired a new stake in shares of QUALCOMM in the 4th quarter valued at approximately $27,000. Centricity Wealth Management LLC purchased a new stake in shares of QUALCOMM in the fourth quarter valued at approximately $29,000. CoreFirst Bank & Trust acquired a new position in shares of QUALCOMM during the 4th quarter worth $33,000. Finally, Synergy Asset Management LLC purchased a new position in QUALCOMM in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 19,287 shares of the firm's stock in a transaction dated 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 transaction, 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 SEC, which is available at this link. Also, CAO Neil Martin sold 744 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were 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 $80,596.63. This trade represents a 61.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is owned by company insiders.

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Analyst Ratings Changes

A number of research analysts have recently weighed in on QCOM shares. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price target on shares of QUALCOMM in a research report on Thursday, February 6th. Benchmark reissued a "buy" rating and set a $240.00 price objective on shares of QUALCOMM in a research note on Friday, February 7th. Barclays lowered their target price on shares of QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Piper Sandler reduced their price target on QUALCOMM from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Finally, StockNews.com downgraded QUALCOMM from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, QUALCOMM has a consensus rating of "Moderate Buy" and an average price target of $205.32.

QUALCOMM Stock Down 9.5 %

NASDAQ QCOM traded down $14.66 during trading hours on Thursday, reaching $139.42. 16,453,352 shares of the company traded hands, compared to its average volume of 8,624,447. The company has a 50 day moving average of $163.33 and a two-hundred day moving average of $163.57. The stock has a market capitalization of $154.20 billion, a PE ratio of 14.90, a PEG ratio of 2.01 and a beta of 1.28. QUALCOMM Incorporated has a 12 month low of $138.58 and a 12 month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly 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%. As a group, equities analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current year.

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors 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 2.44%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's dividend payout ratio (DPR) is presently 36.32%.

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.