Wellington Management Group LLP Sells 1,095,335 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Wellington Management Group LLP trimmed its position in QUALCOMM Incorporated (NASDAQ:QCOM - Free Report) by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,567,386 shares of the wireless technology company's stock after selling 1,095,335 shares during the period. Wellington Management Group LLP owned about 0.87% of QUALCOMM worth $1,469,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QCOM. ARGA Investment Management LP increased its position in shares of QUALCOMM by 18.8% during the third quarter. ARGA Investment Management LP now owns 6,338 shares of the wireless technology company's stock valued at $1,078,000 after acquiring an additional 1,001 shares during the last quarter. Semmax Financial Advisors Inc. increased its position in shares of QUALCOMM by 57.8% during the 3rd quarter. Semmax Financial Advisors Inc. now owns 10,600 shares of the wireless technology company's stock valued at $1,732,000 after purchasing an additional 3,884 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of QUALCOMM during the 3rd quarter worth $15,657,000. B&L Asset Management LLC purchased a new position in shares of QUALCOMM in the 3rd quarter worth about $632,000. Finally, Kestra Investment Management LLC bought a new position in QUALCOMM during the third quarter valued at about $775,000. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Price Performance

Shares of QUALCOMM stock traded down $11.90 on Thursday, hitting $142.18. 4,516,829 shares of the company traded hands, compared to its average volume of 8,578,228. QUALCOMM Incorporated has a 12-month low of $141.72 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. The company has a market cap of $157.25 billion, a P/E ratio of 15.19, a P/E/G ratio of 2.01 and a beta of 1.28. The firm's 50-day simple moving average is $163.33 and its 200 day simple moving average is $163.57.

Remove Ads

QUALCOMM (NASDAQ:QCOM - Get Free Report) last released its quarterly 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 net margin of 25.94% and a return on equity of 39.51%. Analysts expect that QUALCOMM Incorporated will post 9.39 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, March 6th. QUALCOMM's payout ratio is currently 36.32%.

Insiders Place Their Bets

In related news, insider Heather S. Ace sold 1,600 shares of QUALCOMM stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now owns 24,393 shares in the company, valued at $3,762,376.32. This trade represents a 6.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander H. Rogers sold 19,287 shares of the company's 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,968 shares of company stock valued at $4,685,077. 0.08% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Evercore ISI lowered their price objective 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. Barclays reduced their price objective on QUALCOMM from $200.00 to $185.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Mizuho decreased their target price on QUALCOMM from $245.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, January 7th. Melius Research started coverage on QUALCOMM in a research report on Monday, December 9th. They set a "hold" rating and a $180.00 price target on the stock. Finally, StockNews.com lowered QUALCOMM from a "strong-buy" rating to a "buy" rating in a report on Wednesday, March 12th. One 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.