DekaBank Deutsche Girozentrale Sells 31,124 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

DekaBank Deutsche Girozentrale cut its stake in QUALCOMM Incorporated (NASDAQ:QCOM) by 5.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 587,291 shares of the wireless technology company’s stock after selling 31,124 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.05% of QUALCOMM worth $114,574,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of QCOM. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter worth about $2,507,978,000. Matrix Capital Management Company LP bought a new stake in shares of QUALCOMM during the 1st quarter worth $1,171,516,000. Price T Rowe Associates Inc. MD boosted its stake in QUALCOMM by 8.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock valued at $3,664,418,000 after buying an additional 1,909,025 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of QUALCOMM by 34.8% in the 1st quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after purchasing an additional 1,519,781 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new stake in shares of QUALCOMM during the 1st quarter valued at approximately $238,770,000. Institutional investors and hedge funds own 74.35% of the company’s stock.

Insider Transactions at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the transaction, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the sale, the chief technology officer now owns 237,893 shares in the company, valued at $47,452,516.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the transaction, the chief financial officer now directly owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,000 shares of company stock worth $3,496,590. Company insiders own 0.08% of the company’s stock.

QUALCOMM Price Performance

QCOM stock opened at $167.73 on Friday. The firm has a 50 day moving average of $176.11 and a 200-day moving average of $181.70. The firm has a market capitalization of $186.85 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.78 and a debt-to-equity ratio of 0.53. QUALCOMM Incorporated has a 12 month low of $104.33 and a 12 month high of $230.63.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, sell-side analysts predict that QUALCOMM Incorporated will post 8 earnings per share for the current fiscal year.

QUALCOMM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s payout ratio is presently 45.70%.

Analyst Ratings Changes

Several research firms have commented on QCOM. Susquehanna increased their target price on QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. HSBC cut shares of QUALCOMM from a “buy” rating to a “hold” rating and set a $200.00 price target for the company. in a research report on Wednesday, July 17th. Rosenblatt Securities raised their target price on QUALCOMM from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Mizuho upped their price target on QUALCOMM from $180.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, DZ Bank raised shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, QUALCOMM presently has an average rating of “Moderate Buy” and an average price target of $210.63.

QUALCOMM 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.