Russell Investments Group Ltd. Sells 109,654 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Russell Investments Group Ltd. lessened its position in QUALCOMM Incorporated (NASDAQ:QCOM – Get Rating) by 24.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 342,182 shares of the wireless technology company’s stock after selling 109,654 shares during the quarter. Russell Investments Group Ltd.’s holdings in QUALCOMM were worth $38,723,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. CoreFirst Bank & Trust increased its holdings in shares of QUALCOMM by 103.1% during the 2nd quarter. CoreFirst Bank & Trust now owns 197 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 100 shares during the period. IAG Wealth Partners LLC increased its holdings in shares of QUALCOMM by 62.3% during the 3rd quarter. IAG Wealth Partners LLC now owns 224 shares of the wireless technology company’s stock worth $25,000 after purchasing an additional 86 shares during the period. Schubert & Co increased its holdings in shares of QUALCOMM by 136.0% during the 2nd quarter. Schubert & Co now owns 203 shares of the wireless technology company’s stock worth $26,000 after purchasing an additional 117 shares during the period. AdvisorShares Investments LLC bought a new position in shares of QUALCOMM during the 2nd quarter worth about $27,000. Finally, Syverson Strege & Co increased its holdings in shares of QUALCOMM by 124.3% during the 2nd quarter. Syverson Strege & Co now owns 240 shares of the wireless technology company’s stock worth $31,000 after purchasing an additional 133 shares during the period. Institutional investors own 70.87% of the company’s stock.

QUALCOMM Price Performance

Shares of QCOM stock opened at $130.70 on Wednesday. QUALCOMM Incorporated has a 1 year low of $101.93 and a 1 year high of $192.10. The firm’s 50 day moving average is $118.39 and its 200-day moving average is $126.00. The firm has a market capitalization of $146.02 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 0.95 and a beta of 1.23. The company has a current ratio of 1.75, a quick ratio of 1.21 and a debt-to-equity ratio of 0.75.

QUALCOMM (NASDAQ:QCOM – Get Rating) last announced its earnings results on Wednesday, November 2nd. The wireless technology company reported $2.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.74. QUALCOMM had a net margin of 29.27% and a return on equity of 86.71%. The company had revenue of $11.40 billion for the quarter, compared to analyst estimates of $11.38 billion. Sell-side analysts forecast that QUALCOMM Incorporated will post 8.81 EPS for the current fiscal year.

QUALCOMM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 2nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.30%. QUALCOMM’s payout ratio is 26.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Piper Sandler dropped their price objective on shares of QUALCOMM from $185.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, November 3rd. StockNews.com cut shares of QUALCOMM from a “buy” rating to a “hold” rating in a research note on Friday, December 16th. Cowen lowered their target price on shares of QUALCOMM from $185.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. Sanford C. Bernstein lowered their target price on shares of QUALCOMM to $165.00 in a research note on Friday, November 4th. Finally, HSBC started coverage on shares of QUALCOMM in a research note on Monday, October 24th. They issued a “buy” rating and a $180.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.46.

Insider Transactions at QUALCOMM

In related news, CAO Erin L. Polek sold 2,894 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $121.10, for a total transaction of $350,463.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Alexander H. Rogers sold 26,427 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $122.33, for a total transaction of $3,232,814.91. Following the completion of the sale, the insider now directly owns 51,179 shares of the company’s stock, valued at $6,260,727.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Erin L. Polek sold 2,894 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $121.10, for a total transaction of $350,463.40. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

QUALCOMM Company Profile

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QUALCOMM, Inc engages in the development, design, and provision of digital telecommunications products and services. It operates through the following 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 technologies for the use in voice and data communications, networking, application processing, multimedia, and global positioning system products.