QUALCOMM Incorporated (NASDAQ:QCOM) Holdings Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,397,329 shares of the wireless technology company’s stock after selling 11,969 shares during the period. Principal Financial Group Inc.’s holdings in QUALCOMM were worth $214,644,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Banque Transatlantique SA bought a new position in QUALCOMM during the 4th quarter valued at $26,000. WFA Asset Management Corp acquired a new stake in shares of QUALCOMM in the first quarter valued at $27,000. Sunbeam Capital Management LLC bought a new position in QUALCOMM during the fourth quarter valued at about $29,000. Mascagni Wealth Management Inc. acquired a new position in QUALCOMM during the fourth quarter worth about $30,000. Finally, Wood Tarver Financial Group LLC acquired a new position in QUALCOMM during the fourth quarter worth about $31,000. 74.35% of the stock is currently owned by institutional investors.

Insider Transactions at QUALCOMM

In other news, CFO Akash J. Palkhiwala sold 3,333 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $161.28, for a total transaction of $537,546.24. Following the completion of the sale, the chief financial officer directly owned 46,446 shares of the company’s stock, valued at $7,490,810.88. This trade represents a 6.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Inc/De Qualcomm sold 412,500 shares of QUALCOMM stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $16.00, for a total value of $6,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 425,016 shares of company stock valued at $8,437,440. 0.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on QCOM shares. Bank of America cut their price target on shares of QUALCOMM from $245.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. TD Cowen cut their target price on shares of QUALCOMM from $195.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Citigroup reduced their target price on shares of QUALCOMM from $185.00 to $145.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Wall Street Zen cut QUALCOMM from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Finally, Evercore ISI reduced their price objective on QUALCOMM from $179.00 to $157.00 and set an “in-line” rating for the company in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, QUALCOMM currently has a consensus rating of “Hold” and a consensus price target of $186.96.

QUALCOMM Price Performance

Shares of QCOM opened at $162.11 on Friday. The business’s 50-day moving average is $151.05 and its 200-day moving average is $154.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.73 and a quick ratio of 2.08. The company has a market capitalization of $177.99 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.26. QUALCOMM Incorporated has a fifty-two week low of $120.80 and a fifty-two week high of $211.09.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, April 30th. The wireless technology company reported $2.85 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.03. The firm had revenue of $10.98 billion for the quarter, compared to the consensus estimate of $10.58 billion. QUALCOMM had a net margin of 26.11% and a return on equity of 40.11%. The firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. Equities research analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 5th were issued a dividend of $0.89 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.85. This represents a $3.56 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, June 5th. QUALCOMM’s payout ratio is currently 36.25%.

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.