Nepsis Inc. Decreases Position in QUALCOMM Incorporated (NASDAQ:QCOM)

Nepsis Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 17.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,427 shares of the wireless technology company’s stock after selling 21,307 shares during the quarter. QUALCOMM makes up about 4.0% of Nepsis Inc.’s holdings, making the stock its 15th biggest position. Nepsis Inc.’s holdings in QUALCOMM were worth $16,738,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Legal & General Group Plc raised its stake in QUALCOMM by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after acquiring an additional 86,195 shares in the last quarter. Matrix Capital Management Company LP purchased a new stake in shares of QUALCOMM in the 1st quarter valued at about $1,171,516,000. Van ECK Associates Corp boosted its position 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 during the period. Dimensional Fund Advisors LP grew its stake in QUALCOMM by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock worth $970,951,000 after buying an additional 173,673 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in QUALCOMM by 0.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,476,901 shares of the wireless technology company’s stock worth $588,639,000 after buying an additional 26,187 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insiders Place Their Bets

In other news, CTO James H. Thompson sold 8,000 shares of the firm’s 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 transaction, the chief technology officer now directly owns 229,987 shares of the company’s stock, valued at $36,912,913.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other QUALCOMM news, insider Alexander H. Rogers sold 3,245 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $166.15, for a total value of $539,156.75. Following the transaction, the insider now directly owns 32,231 shares in the company, valued at approximately $5,355,180.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the sale, the chief technology officer now owns 229,987 shares of the company’s stock, valued at approximately $36,912,913.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,245 shares of company stock worth $3,679,407. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

QCOM has been the subject of several research analyst reports. Citigroup decreased their price objective on QUALCOMM from $200.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday. Barclays increased their price target on shares of QUALCOMM from $185.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Susquehanna lifted their price objective on shares of QUALCOMM from $205.00 to $250.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. DZ Bank upgraded shares of QUALCOMM from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, August 2nd. Finally, Wolfe Research cut QUALCOMM from an “outperform” rating to a “peer perform” rating in a research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, QUALCOMM presently has a consensus rating of “Moderate Buy” and an average price target of $208.75.

QUALCOMM Price Performance

Shares of NASDAQ:QCOM traded down $0.18 during trading on Friday, hitting $170.92. 6,432,721 shares of the stock were exchanged, compared to its average volume of 9,047,298. QUALCOMM Incorporated has a 12-month low of $104.33 and a 12-month high of $230.63. The company has a market cap of $190.75 billion, a PE ratio of 22.97, a P/E/G ratio of 1.79 and a beta of 1.28. The company has a fifty day moving average price of $169.11 and a two-hundred day moving average price of $182.19. 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 (NASDAQ:QCOM) last posted its earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 EPS for the quarter, topping 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 the consensus estimate of $9.23 billion. On average, analysts forecast that QUALCOMM Incorporated will post 8.02 EPS for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, December 5th. This represents a $3.40 annualized dividend and a yield of 1.99%. QUALCOMM’s dividend payout ratio (DPR) is currently 45.70%.

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.