QUALCOMM Incorporated (NASDAQ:QCOM) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA trimmed its position in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,949,643 shares of the wireless technology company’s stock after selling 159,364 shares during the period. Primecap Management Co. CA owned approximately 0.44% of QUALCOMM worth $985,870,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after purchasing an additional 1,909,025 shares in the last quarter. Matrix Capital Management Company LP acquired a new stake in shares of QUALCOMM in the first quarter valued at $1,171,516,000. Putnam Investments LLC raised its stake in shares of QUALCOMM by 4.3% in the fourth quarter. Putnam Investments LLC now owns 6,340,667 shares of the wireless technology company’s stock valued at $917,051,000 after acquiring an additional 263,482 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company’s stock valued at $997,210,000 after acquiring an additional 1,519,781 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after acquiring an additional 173,673 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

QUALCOMM Stock Performance

NASDAQ QCOM opened at $166.61 on Tuesday. QUALCOMM Incorporated has a 52-week low of $104.33 and a 52-week high of $230.63. The business’s 50-day moving average price is $175.29 and its 200 day moving average price is $182.11. The firm has a market cap of $185.94 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.21. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.23 billion. On average, equities research analysts expect that QUALCOMM Incorporated will post 8 earnings per share for the current year.

QUALCOMM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 5th will be issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, September 5th. QUALCOMM’s dividend payout ratio is presently 45.70%.

Insider Buying and Selling at QUALCOMM

In other QUALCOMM news, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at approximately $12,407,124.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the completion of the sale, the chief technology officer now directly owns 229,987 shares in the company, valued at approximately $36,912,913.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $205.61, for a total transaction of $616,830.00. Following the sale, the chief financial officer now owns 60,343 shares of the company’s stock, valued at $12,407,124.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,000 shares of company stock valued at $3,496,590. 0.08% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

QCOM has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $215.00 price objective on shares of QUALCOMM in a research note on Thursday, August 1st. KeyCorp increased their price objective on QUALCOMM from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. StockNews.com cut QUALCOMM from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 3rd. Finally, Hsbc Global Res cut QUALCOMM from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.63.

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.