Varma Mutual Pension Insurance Co Sells 22,796 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Varma Mutual Pension Insurance Co trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 195,271 shares of the wireless technology company’s stock after selling 22,796 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in QUALCOMM were worth $38,894,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QCOM. WFA Asset Management Corp purchased a new position in shares of QUALCOMM during the 1st quarter valued at $27,000. CarsonAllaria Wealth Management Ltd. grew its position in QUALCOMM by 327.1% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 205 shares of the wireless technology company’s stock worth $30,000 after buying an additional 157 shares in the last quarter. Financial Connections Group Inc. bought a new position in QUALCOMM in the 2nd quarter worth about $32,000. Aspect Partners LLC raised its holdings in shares of QUALCOMM by 71.8% in the 2nd quarter. Aspect Partners LLC now owns 177 shares of the wireless technology company’s stock valued at $35,000 after acquiring an additional 74 shares in the last quarter. Finally, Richardson Capital Management LLC bought a new stake in shares of QUALCOMM during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Wall Street Analyst Weigh In

QCOM has been the topic of several research analyst reports. Rosenblatt Securities upped their price objective on shares of QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Susquehanna raised their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. TD Cowen upped their target price on shares of QUALCOMM from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Wells Fargo & Company increased their target price on QUALCOMM from $140.00 to $170.00 and gave the company an “underweight” rating in a research note on Thursday, August 1st. Finally, Westpark Capital reaffirmed a “hold” rating on shares of QUALCOMM in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM Trading Down 3.4 %

Shares of NASDAQ:QCOM traded down $5.51 on Friday, hitting $158.19. The company had a trading volume of 10,703,047 shares, compared to its average volume of 9,279,430. The firm’s 50-day simple moving average is $179.95 and its two-hundred day simple moving average is $181.55. The firm has a market capitalization of $176.54 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.93 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $230.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.72 by $0.21. QUALCOMM had a net margin of 23.32% and a return on equity of 38.12%. The business had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.23 billion. Equities analysts anticipate that QUALCOMM Incorporated will post 7.98 earnings per share for the current fiscal year.

QUALCOMM Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.40 annualized dividend and a yield of 2.15%. QUALCOMM’s payout ratio is 45.70%.

Insiders Place Their Bets

In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the completion of the transaction, the chief technology officer now directly owns 237,893 shares of the company’s stock, valued at approximately $47,452,516.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. 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 firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total transaction of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares of the company’s stock, valued at $47,452,516.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock worth $3,496,590. 0.08% of the stock is owned by corporate insiders.

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.