ING Groep NV Sells 75,019 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

ING Groep NV lessened its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 10.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 676,144 shares of the wireless technology company’s stock after selling 75,019 shares during the period. QUALCOMM accounts for approximately 0.7% of ING Groep NV’s holdings, making the stock its 25th largest position. ING Groep NV’s holdings in QUALCOMM were worth $103,869,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in QCOM. Reston Wealth Management LLC bought a new position in QUALCOMM in the 3rd quarter valued at approximately $26,000. CKW Financial Group bought a new position in QUALCOMM in the 4th quarter valued at approximately $27,000. Planning Capital Management Corp raised its holdings in QUALCOMM by 137.3% in the 3rd quarter. Planning Capital Management Corp now owns 197 shares of the wireless technology company’s stock valued at $34,000 after buying an additional 114 shares during the last quarter. Accordant Advisory Group Inc bought a new position in QUALCOMM in the 3rd quarter valued at approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in QUALCOMM in the 4th quarter valued at approximately $38,000. Institutional investors own 74.35% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several analyst reports. Sanford C. Bernstein raised their price target on shares of QUALCOMM from $200.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Morgan Stanley lowered their price target on shares of QUALCOMM from $207.00 to $204.00 and set an “equal weight” rating for the company in a report on Thursday, November 7th. Loop Capital initiated coverage on shares of QUALCOMM in a report on Monday, November 11th. They set a “hold” rating and a $180.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Susquehanna lowered their price target on shares of QUALCOMM from $230.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, November 20th. One investment 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 presently has an average rating of “Moderate Buy” and an average price target of $205.32.

Insiders Place Their Bets

In other QUALCOMM news, insider Alexander H. Rogers sold 10,373 shares of QUALCOMM stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $160.59, for a total transaction of $1,665,800.07. Following the transaction, the insider now directly owns 33,383 shares of the company’s stock, valued at $5,360,975.97. The trade was a 23.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $169.80, for a total transaction of $509,400.00. Following the transaction, the chief financial officer now directly owns 63,115 shares in the company, valued at $10,716,927. This represents a 4.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,964 shares of company stock valued at $7,583,661 in the last three months. 0.08% of the stock is currently owned by insiders.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $175.22 on Thursday. The company has a fifty day simple moving average of $164.01 and a 200 day simple moving average of $165.61. QUALCOMM Incorporated has a 12-month low of $148.90 and a 12-month high of $230.63. The company has a current ratio of 2.62, a quick ratio of 1.99 and a debt-to-equity ratio of 0.49. The company has a market cap of $193.79 billion, a P/E ratio of 18.72, a PEG ratio of 2.01 and a beta of 1.25.

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

QUALCOMM Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, March 6th. QUALCOMM’s dividend payout ratio is 36.32%.

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.