OVERSEA CHINESE BANKING Corp Ltd Sells 2,432 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

OVERSEA CHINESE BANKING Corp Ltd cut its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,152 shares of the wireless technology company’s stock after selling 2,432 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in QUALCOMM were worth $456,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of QCOM. Moneta Group Investment Advisors LLC raised its stake in shares of QUALCOMM by 117,461.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after buying an additional 24,566,978 shares in the last quarter. Norges Bank acquired a new position in QUALCOMM in the fourth quarter worth about $1,467,351,000. Cowa LLC bought a new position in QUALCOMM during the first quarter worth about $94,000. Morgan Stanley boosted its holdings in QUALCOMM by 22.2% during the fourth quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock valued at $2,375,020,000 after purchasing an additional 3,929,586 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of 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 during the period. 74.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QCOM has been the subject of several analyst reports. KeyCorp raised their target price on QUALCOMM from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Mizuho increased their target price on shares of QUALCOMM from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Cantor Fitzgerald boosted their price target on shares of QUALCOMM from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Finally, Piper Sandler upped their price objective on shares of QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.90.

QUALCOMM Stock Down 2.4 %

Shares of QUALCOMM stock opened at $157.63 on Monday. The business has a fifty day simple moving average of $164.87 and a 200 day simple moving average of $143.12. The stock has a market cap of $175.92 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.41. 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 Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.43. The company 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%. Research analysts predict that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Thursday, May 30th. This is a positive change from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 2.16%. QUALCOMM’s dividend payout ratio (DPR) is 46.38%.

Insider Transactions at QUALCOMM

In related news, CAO Neil Martin sold 371 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $159.50, for a total value of $1,291,950.00. Following the completion of the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the sale, the chief accounting officer now directly owns 689 shares of the company’s stock, valued at approximately $103,232.87. The disclosure for this sale can be found here. Insiders have sold a total of 36,260 shares of company stock valued at $5,973,728 over the last three months. 0.08% of the stock is currently owned by corporate insiders.

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.