QUALCOMM Incorporated (NASDAQ:QCOM) Stock Position Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in QUALCOMM Incorporated (NASDAQ:QCOM) by 24.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,477,529 shares of the wireless technology company’s stock after selling 490,625 shares during the period. Massachusetts Financial Services Co. MA’s holdings in QUALCOMM were worth $226,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of QUALCOMM by 39.7% during the 4th quarter. Nordea Investment Management AB now owns 1,841,103 shares of the wireless technology company’s stock worth $284,708,000 after buying an additional 523,244 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in QUALCOMM by 21.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 27,596 shares of the wireless technology company’s stock worth $4,239,000 after purchasing an additional 4,955 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in QUALCOMM in the fourth quarter worth approximately $2,058,000. Burney Co. boosted its stake in QUALCOMM by 665.6% during the 4th quarter. Burney Co. now owns 146,911 shares of the wireless technology company’s stock valued at $22,568,000 after purchasing an additional 127,722 shares in the last quarter. Finally, Howard Bailey Securities LLC bought a new stake in shares of QUALCOMM in the 4th quarter worth $240,000. Institutional investors own 74.35% of the company’s stock.

Insider Activity

In other news, CFO Akash J. Palkhiwala sold 3,337 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $156.82, for a total value of $523,308.34. Following the sale, the chief financial officer now directly owns 59,778 shares of the company’s stock, valued at approximately $9,374,385.96. This trade represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Heather S. Ace sold 1,600 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $154.24, for a total value of $246,784.00. Following the transaction, the insider now directly owns 24,393 shares of the company’s stock, valued at $3,762,376.32. This represents a 6.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,968 shares of company stock valued at $4,685,077 over the last 90 days. 0.08% of the stock is currently owned by company insiders.

QUALCOMM Stock Performance

Shares of QCOM opened at $139.42 on Friday. The firm has a market cap of $154.20 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 2.01 and a beta of 1.28. The company’s fifty day moving average is $162.63 and its 200-day moving average is $163.40. The company has a quick ratio of 1.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.49. QUALCOMM Incorporated has a 12 month low of $138.56 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, February 5th. The wireless technology company reported $2.86 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.07). QUALCOMM had a net margin of 25.94% and a return on equity of 39.51%. Equities analysts expect that QUALCOMM Incorporated will post 9.39 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th were issued a dividend of $0.85 per share. The ex-dividend date was Thursday, March 6th. This represents a $3.40 annualized dividend and a yield of 2.44%. QUALCOMM’s dividend payout ratio (DPR) is presently 36.32%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QCOM. Melius initiated coverage on QUALCOMM in a report on Monday, December 9th. They set a “hold” rating and a $180.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $160.00 target price on shares of QUALCOMM in a research note on Thursday, February 6th. Mizuho decreased their price target on shares of QUALCOMM from $245.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of QUALCOMM in a research report on Thursday, February 6th. Finally, StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.32.

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.