QUALCOMM Incorporated (NASDAQ:QCOM) is Nepsis Inc.’s 7th Largest Position

Nepsis Inc. lowered its stake in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 10.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 120,367 shares of the wireless technology company’s stock after selling 13,790 shares during the period. QUALCOMM comprises about 5.0% of Nepsis Inc.’s investment portfolio, making the stock its 7th biggest position. Nepsis Inc.’s holdings in QUALCOMM were worth $17,409,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Moneta Group Investment Advisors LLC increased its stake in shares of QUALCOMM by 117,461.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,587,893 shares of the wireless technology company’s stock valued at $2,703,193,000 after purchasing an additional 24,566,978 shares in the last quarter. Norges Bank acquired a new stake in QUALCOMM in the 4th quarter worth about $1,467,351,000. Cowa LLC acquired a new stake in QUALCOMM in the 1st quarter worth about $94,000. Morgan Stanley boosted its holdings in QUALCOMM by 22.2% in the 4th quarter. Morgan Stanley now owns 21,602,874 shares of the wireless technology company’s stock worth $2,375,020,000 after buying an additional 3,929,586 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in QUALCOMM by 1,543.8% in the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after buying an additional 2,659,323 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.

Insider Activity at QUALCOMM

In related news, CEO Cristiano R. Amon sold 8,100 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $169.60, for a total value of $1,373,760.00. Following the transaction, the chief executive officer now owns 16,200 shares of the company’s stock, valued at $2,747,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other QUALCOMM news, CEO Cristiano R. Amon sold 8,100 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $169.60, for a total value of $1,373,760.00. Following the completion of the transaction, the chief executive officer now owns 16,200 shares in the company, valued at $2,747,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James J. Cathey sold 1,000 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $139.00, for a total transaction of $139,000.00. Following the completion of the transaction, the insider now owns 4,972 shares of the company’s stock, valued at approximately $691,108. The disclosure for this sale can be found here. Insiders have sold 34,360 shares of company stock valued at $5,457,048 over the last quarter. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group lifted their price objective on QUALCOMM from $152.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, January 19th. KeyCorp boosted their target price on QUALCOMM from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Morgan Stanley cut QUALCOMM from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $119.00 to $132.00 in a report on Friday, December 8th. Rosenblatt Securities boosted their target price on QUALCOMM from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, TD Cowen upped their price objective on QUALCOMM from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.71.

QUALCOMM Stock Up 1.2 %

Shares of QUALCOMM stock traded up $2.06 during trading hours on Wednesday, reaching $169.13. 6,309,214 shares of the company were exchanged, compared to its average volume of 9,062,348. QUALCOMM Incorporated has a 1 year low of $101.47 and a 1 year high of $177.59. The stock’s fifty day moving average is $157.05 and its 200 day moving average is $135.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.88 and a current ratio of 2.56. The firm has a market cap of $188.75 billion, a PE ratio of 24.51, a PEG ratio of 2.29 and a beta of 1.41.

QUALCOMM (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, January 31st. The wireless technology company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.43. The business 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 research analysts forecast that QUALCOMM Incorporated will post 7.67 earnings per share for the current year.

QUALCOMM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, February 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.89%. The ex-dividend date was Wednesday, February 28th. QUALCOMM’s dividend payout ratio (DPR) 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.