OVERSEA CHINESE BANKING Corp Ltd Sells 2,432 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 43.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,152 shares of the wireless technology company’s stock after selling 2,432 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in QUALCOMM were worth $456,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in QCOM. Fairfield Bush & CO. grew its stake in QUALCOMM by 1.3% during the first quarter. Fairfield Bush & CO. now owns 30,833 shares of the wireless technology company’s stock valued at $4,712,000 after acquiring an additional 390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of QUALCOMM by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,211,930 shares of the wireless technology company’s stock valued at $338,027,000 after purchasing an additional 245,335 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of QUALCOMM by 25.2% in the first quarter. Merit Financial Group LLC now owns 2,759 shares of the wireless technology company’s stock worth $422,000 after purchasing an additional 555 shares during the period. NewEdge Advisors LLC increased its holdings in shares of QUALCOMM by 23.8% in the first quarter. NewEdge Advisors LLC now owns 44,138 shares of the wireless technology company’s stock worth $6,745,000 after purchasing an additional 8,472 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of QUALCOMM by 30.4% in the first quarter. Mackenzie Financial Corp now owns 342,744 shares of the wireless technology company’s stock worth $52,378,000 after buying an additional 79,827 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other news, CTO James H. Thompson sold 8,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $159.39, for a total value of $1,275,120.00. Following the sale, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other QUALCOMM news, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $159.39, for a total value of $1,275,120.00. Following the completion of the transaction, the chief technology officer now directly owns 269,893 shares of the company’s stock, valued at $43,018,245.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Akash J. Palkhiwala sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $173.49, for a total transaction of $520,470.00. Following the sale, the chief financial officer now directly owns 69,343 shares of the company’s stock, valued at approximately $12,030,317.07. The disclosure for this sale can be found here. Insiders sold a total of 36,260 shares of company stock valued at $5,973,728 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on QCOM. Piper Sandler upped their target price on QUALCOMM from $140.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Canaccord Genuity Group raised their target price on shares of QUALCOMM from $152.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Rosenblatt Securities boosted their price target on shares of QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Citigroup cut shares of QUALCOMM from a “buy” rating to a “neutral” rating and set a $160.00 price objective on the stock. in a research report on Thursday, February 1st. Finally, Susquehanna raised their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.90.

QUALCOMM Trading Down 2.4 %

NASDAQ:QCOM opened at $157.63 on Monday. QUALCOMM Incorporated has a 12 month low of $101.47 and a 12 month high of $177.59. The stock has a market cap of $175.92 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 2.15 and a beta of 1.41. The company has a 50-day moving average price of $164.87 and a 200-day moving average price of $143.12. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63.

QUALCOMM (NASDAQ:QCOM) last issued its quarterly earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.43. The company had revenue of $9.94 billion for the quarter, compared to analysts’ expectations of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. Equities analysts predict that QUALCOMM Incorporated will post 7.69 EPS for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Thursday, May 30th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 2.16%. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. QUALCOMM’s dividend payout ratio is presently 46.38%.

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.