QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lessened its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 11.2% during the fourth quarter, Holdings Channel reports. The firm owned 6,333 shares of the wireless technology company’s stock after selling 799 shares during the period. Desjardins Global Asset Management Inc.’s holdings in QUALCOMM were worth $916,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its position in QUALCOMM by 117,461.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock worth $2,703,193,000 after purchasing an additional 24,566,978 shares in the last quarter. Norges Bank acquired a new stake in shares of QUALCOMM in the fourth quarter worth $1,467,351,000. Cowa LLC purchased a new position in shares of QUALCOMM in the 1st quarter valued at $94,000. Morgan Stanley boosted its position in QUALCOMM by 22.2% during the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after purchasing an additional 3,929,586 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares in the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on QCOM shares. Mizuho upped their target price on QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Piper Sandler lifted their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. StockNews.com downgraded shares of QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 7th. Susquehanna raised their price target on shares of QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. Finally, Rosenblatt Securities boosted their price objective on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Stock Performance

Shares of QCOM stock opened at $164.32 on Thursday. QUALCOMM Incorporated has a 52 week low of $101.47 and a 52 week high of $177.59. The company has a market cap of $183.38 billion, a P/E ratio of 23.81, a PEG ratio of 2.30 and a beta of 1.41. The business has a 50 day moving average of $164.47 and a two-hundred day moving average of $142.20. The company has a quick ratio of 1.88, a current ratio of 2.56 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The business had revenue of $9.94 billion during the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, analysts anticipate that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.07%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is 46.38%.

Insider Buying and Selling

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at approximately $43,018,245.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Akash J. Palkhiwala sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the transaction, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at $12,030,317.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total transaction of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares in the company, valued at $43,018,245.27. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,360 shares of company stock valued at $7,184,678. Company insiders own 0.08% of the company’s stock.

QUALCOMM 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.