PGGM Investments Sells 13,942 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

PGGM Investments decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 86.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,154 shares of the wireless technology company’s stock after selling 13,942 shares during the quarter. PGGM Investments’ holdings in QUALCOMM were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Glass Jacobson Investment Advisors llc raised its stake in QUALCOMM by 6.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,110 shares of the wireless technology company’s stock worth $161,000 after purchasing an additional 68 shares during the period. Chilton Capital Management LLC grew its position in QUALCOMM by 1.9% in the fourth quarter. Chilton Capital Management LLC now owns 3,763 shares of the wireless technology company’s stock worth $544,000 after acquiring an additional 70 shares during the period. Means Investment CO. Inc. increased its stake in QUALCOMM by 1.2% during the fourth quarter. Means Investment CO. Inc. now owns 5,793 shares of the wireless technology company’s stock worth $838,000 after acquiring an additional 71 shares during the last quarter. Marino Stram & Associates LLC raised its position in QUALCOMM by 2.5% in the fourth quarter. Marino Stram & Associates LLC now owns 2,973 shares of the wireless technology company’s stock valued at $430,000 after purchasing an additional 73 shares during the period. Finally, First Command Advisory Services Inc. lifted its stake in shares of QUALCOMM by 6.1% in the 4th quarter. First Command Advisory Services Inc. now owns 1,366 shares of the wireless technology company’s stock valued at $198,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In other QUALCOMM news, CAO Neil Martin sold 371 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total transaction of $55,586.93. Following the transaction, the chief accounting officer now owns 689 shares of the company’s stock, valued at approximately $103,232.87. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Neil Martin sold 371 shares of QUALCOMM stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $149.83, for a total value of $55,586.93. Following the completion of the sale, the chief accounting officer now owns 689 shares of the company’s stock, valued at $103,232.87. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $159.50, for a total value of $1,291,950.00. Following the transaction, the chief executive officer now owns 24,300 shares in the company, valued at $3,875,850. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,260 shares of company stock valued at $5,973,728. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

QCOM has been the topic of several research analyst reports. Evercore ISI started coverage on shares of QUALCOMM in a report on Tuesday, April 16th. They issued an “in-line” rating and a $177.00 price objective on the stock. Barclays increased their price objective on shares of QUALCOMM from $140.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. JPMorgan Chase & Co. decreased their price target on QUALCOMM from $173.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, February 1st. Susquehanna lifted their price objective on QUALCOMM from $175.00 to $205.00 and gave the company a “positive” rating in a research note on Wednesday, April 10th. Finally, Cantor Fitzgerald increased their target price on QUALCOMM from $150.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $158.86.

QUALCOMM Price Performance

QCOM stock opened at $169.20 on Tuesday. The company has a market cap of $188.83 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 2.27 and a beta of 1.41. The company has a current ratio of 2.56, a quick ratio of 1.88 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average of $166.17 and a 200-day moving average of $145.34. QUALCOMM Incorporated has a 12-month low of $101.47 and a 12-month high of $177.59.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.43. The firm had revenue of $9.94 billion for the quarter, compared to analyst estimates of $9.50 billion. QUALCOMM had a return on equity of 38.06% and a net margin of 21.39%. As a group, equities analysts expect that QUALCOMM Incorporated will post 7.64 EPS for the current fiscal year.

QUALCOMM Increases Dividend

The company also recently announced 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. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date is Thursday, May 30th. This represents a $3.40 annualized dividend and a yield of 2.01%. QUALCOMM’s payout ratio is presently 46.38%.

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.