Fisher Asset Management LLC Sells 29,710 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

Fisher Asset Management LLC decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,687,635 shares of the wireless technology company’s stock after selling 29,710 shares during the period. Fisher Asset Management LLC owned approximately 0.15% of QUALCOMM worth $244,083,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in QCOM. Norges Bank bought a new stake in QUALCOMM during the fourth quarter valued at $2,507,978,000. International Assets Investment Management LLC boosted its stake in QUALCOMM by 12,998.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after buying an additional 2,983,206 shares during the period. Pacer Advisors Inc. lifted its stake in QUALCOMM by 1,543.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock worth $409,531,000 after purchasing an additional 2,659,323 shares during the last quarter. 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 during the last quarter. Finally, California Public Employees Retirement System lifted its stake in QUALCOMM by 48.8% during the fourth quarter. California Public Employees Retirement System now owns 3,324,303 shares of the wireless technology company’s stock worth $480,794,000 after purchasing an additional 1,090,504 shares during the last quarter. Institutional investors own 74.35% of the company’s stock.

QUALCOMM Stock Down 1.1 %

Shares of QCOM stock traded down $2.48 during midday trading on Friday, reaching $215.33. 6,438,225 shares of the stock were exchanged, compared to its average volume of 9,812,994. QUALCOMM Incorporated has a 1 year low of $104.33 and a 1 year high of $218.36. The company’s 50 day moving average is $187.60 and its two-hundred day moving average is $164.23. The company has a current ratio of 2.65, a quick ratio of 1.98 and a debt-to-equity ratio of 0.59. The firm has a market cap of $240.31 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30.

QUALCOMM (NASDAQ:QCOM) last posted its earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.11. QUALCOMM had a return on equity of 37.09% and a net margin of 23.03%. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, equities research analysts predict that QUALCOMM Incorporated will post 7.83 EPS for the current year.

QUALCOMM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th will be issued a dividend of $0.85 per share. This is an increase from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.58%. QUALCOMM’s dividend payout ratio is 45.70%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price target on QUALCOMM from $158.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Barclays lifted their price target on QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Susquehanna lifted their price target on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a research note on Wednesday, April 10th. Bank of America lifted their price target on QUALCOMM from $180.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. Finally, Benchmark reiterated a “buy” rating and issued a $200.00 price objective on shares of QUALCOMM in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and a consensus price target of $188.74.

Insiders Place Their Bets

In other QUALCOMM news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now owns 5,902 shares in the company, valued at approximately $1,185,947.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Neil Smit sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $200.94, for a total value of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at approximately $1,185,947.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Cristiano R. Amon sold 8,100 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $181.00, for a total transaction of $1,466,100.00. Following the sale, the chief executive officer now owns 8,100 shares of the company’s stock, valued at $1,466,100. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,185 shares of company stock worth $8,206,875. Company insiders own 0.08% of the company’s stock.

QUALCOMM Company 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.