QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by TIAA Trust National Association

TIAA Trust National Association lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,999 shares of the wireless technology company’s stock after selling 860 shares during the period. TIAA Trust National Association’s holdings in QUALCOMM were worth $9,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spirepoint Private Client LLC acquired a new position in shares of QUALCOMM during the 1st quarter worth $648,000. Intech Investment Management LLC raised its position in QUALCOMM by 49.3% during the first quarter. Intech Investment Management LLC now owns 61,797 shares of the wireless technology company’s stock worth $10,462,000 after acquiring an additional 20,412 shares during the last quarter. Clearstead Trust LLC raised its position in QUALCOMM by 20.9% during the first quarter. Clearstead Trust LLC now owns 1,447 shares of the wireless technology company’s stock worth $245,000 after acquiring an additional 250 shares during the last quarter. Nicolet Advisory Services LLC purchased a new stake in shares of QUALCOMM in the first quarter valued at about $222,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of QUALCOMM in the first quarter valued at approximately $77,434,000. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on QCOM shares. Barclays upped their target price on QUALCOMM from $155.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com lowered QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 8th. UBS Group boosted their target price on shares of QUALCOMM from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Hsbc Global Res cut shares of QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Cantor Fitzgerald lifted their price target on shares of QUALCOMM from $190.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $197.54.

QUALCOMM Trading Down 2.7 %

QCOM stock traded down $5.25 during midday trading on Friday, reaching $186.21. 9,195,710 shares of the company’s stock traded hands, compared to its average volume of 9,247,452. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a fifty-two week low of $104.33 and a fifty-two week high of $230.63. The business has a 50-day moving average price of $204.79 and a two-hundred day moving average price of $175.62. The company has a market capitalization of $207.81 billion, a P/E ratio of 25.03, a PEG ratio of 2.26 and a beta of 1.27.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.32 billion. Equities research analysts forecast that QUALCOMM Incorporated will post 7.84 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.83%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

Insider Activity at QUALCOMM

In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now owns 253,893 shares in the company, valued at approximately $46,208,526. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Sylvia Acevedo sold 2,056 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $178.21, for a total value of $366,399.76. Following the transaction, the director now owns 54 shares in the company, valued at $9,623.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $182.00, for a total value of $1,456,000.00. Following the completion of the transaction, the chief technology officer now directly owns 253,893 shares of the company’s stock, valued at approximately $46,208,526. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,185 shares of company stock worth $8,552,835. 0.08% of the stock is currently owned by company insiders.

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.