Capital International Sarl Decreases Stock Holdings in QUALCOMM, Inc. (NASDAQ:QCOM)

Capital International Sarl trimmed its position in shares of QUALCOMM, Inc. (NASDAQ:QCOM) by 11.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,072 shares of the wireless technology company’s stock after selling 3,800 shares during the period. Capital International Sarl’s holdings in QUALCOMM were worth $2,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC raised its holdings in QUALCOMM by 346.1% during the 4th quarter. Renaissance Technologies LLC now owns 5,756,507 shares of the wireless technology company’s stock valued at $507,897,000 after buying an additional 4,466,107 shares during the period. Janus Henderson Group PLC raised its holdings in QUALCOMM by 238.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,558,447 shares of the wireless technology company’s stock valued at $402,193,000 after buying an additional 3,213,243 shares during the period. Alliancebernstein L.P. raised its holdings in QUALCOMM by 110.4% during the 4th quarter. Alliancebernstein L.P. now owns 5,969,697 shares of the wireless technology company’s stock valued at $526,706,000 after buying an additional 3,132,675 shares during the period. FMR LLC raised its holdings in QUALCOMM by 2.6% during the 4th quarter. FMR LLC now owns 56,173,678 shares of the wireless technology company’s stock valued at $4,956,204,000 after buying an additional 1,433,849 shares during the period. Finally, Fred Alger Management LLC raised its holdings in QUALCOMM by 6,699.1% during the 4th quarter. Fred Alger Management LLC now owns 1,393,746 shares of the wireless technology company’s stock valued at $122,970,000 after buying an additional 1,373,247 shares during the period. 77.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of QCOM traded up $5.31 during midday trading on Thursday, reaching $68.39. 6,624,454 shares of the stock were exchanged, compared to its average volume of 15,470,099. QUALCOMM, Inc. has a 52 week low of $55.78 and a 52 week high of $96.17. The company has a current ratio of 1.76, a quick ratio of 1.61 and a debt-to-equity ratio of 2.98. The company’s 50 day moving average is $79.56 and its two-hundred day moving average is $83.04. The company has a market capitalization of $74.82 billion, a P/E ratio of 19.43, a PEG ratio of 0.94 and a beta of 1.46.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, February 5th. The wireless technology company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.14. QUALCOMM had a return on equity of 66.54% and a net margin of 17.31%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter last year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that QUALCOMM, Inc. will post 3.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 5th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, March 4th. QUALCOMM’s payout ratio is currently 87.32%.

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 5,237 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $89.00, for a total value of $466,093.00. Following the completion of the sale, the chief financial officer now directly owns 19,018 shares in the company, valued at $1,692,602. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Alexander H. Rogers sold 735 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $95.37, for a total value of $70,096.95. Following the completion of the sale, the executive vice president now owns 14,247 shares of the company’s stock, valued at $1,358,736.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,562 shares of company stock worth $873,650. 0.12% of the stock is owned by corporate insiders.

QCOM has been the topic of several recent research reports. Canaccord Genuity restated a “buy” rating and set a $96.00 price target (down previously from $115.00) on shares of QUALCOMM in a report on Thursday, March 19th. Piper Sandler initiated coverage on QUALCOMM in a report on Wednesday, March 4th. They set a “neutral” rating and a $80.00 price target on the stock. Cowen increased their price target on QUALCOMM from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $108.00 to $105.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, UBS Group increased their price target on QUALCOMM from $87.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $91.33.

QUALCOMM Company Profile

QUALCOMM Incorporated designs, develops, manufactures, and markets digital communication products 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 code division multiple access (CDMA), orthogonal frequency division multiple access, and other technologies for use in wireless voice and data communications, networking, application processing, multimedia, and global positioning system products.

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Institutional Ownership by Quarter for QUALCOMM (NASDAQ:QCOM)

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