ARGA Investment Management LP Sells 44,786 Shares of QUALCOMM Incorporated (NASDAQ:QCOM)

ARGA Investment Management LP decreased its holdings in shares of QUALCOMM Incorporated (NASDAQ:QCOM) by 9.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 426,066 shares of the wireless technology company’s stock after selling 44,786 shares during the period. QUALCOMM makes up 2.4% of ARGA Investment Management LP’s holdings, making the stock its 11th largest position. ARGA Investment Management LP’s holdings in QUALCOMM were worth $72,133,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Peoples Bank OH bought a new stake in shares of QUALCOMM in the 4th quarter valued at $219,000. Bank Hapoalim BM increased its holdings in QUALCOMM by 35.0% during the 4th quarter. Bank Hapoalim BM now owns 35,423 shares of the wireless technology company’s stock worth $5,123,000 after purchasing an additional 9,192 shares in the last quarter. NewEdge Wealth LLC increased its holdings in QUALCOMM by 120.2% during the 4th quarter. NewEdge Wealth LLC now owns 20,677 shares of the wireless technology company’s stock worth $2,991,000 after purchasing an additional 11,285 shares in the last quarter. 1834 Investment Advisors Co. increased its holdings in QUALCOMM by 6.6% during the 4th quarter. 1834 Investment Advisors Co. now owns 45,570 shares of the wireless technology company’s stock worth $6,591,000 after purchasing an additional 2,818 shares in the last quarter. Finally, Alexander Randolph Advisory Inc. bought a new position in QUALCOMM during the 4th quarter worth about $305,000. Institutional investors own 74.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on QCOM. Susquehanna increased their target price on QUALCOMM from $175.00 to $205.00 and gave the stock a “positive” rating in a report on Wednesday, April 10th. Evercore ISI began coverage on QUALCOMM in a report on Tuesday, April 16th. They set an “in-line” rating and a $177.00 target price for the company. Wolfe Research increased their target price on QUALCOMM from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Argus increased their price objective on shares of QUALCOMM from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Robert W. Baird increased their price objective on shares of QUALCOMM from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, QUALCOMM has a consensus rating of “Moderate Buy” and an average price target of $192.13.

QUALCOMM Stock Performance

QUALCOMM stock traded down $4.53 during trading hours on Wednesday, hitting $197.64. The company had a trading volume of 3,809,385 shares, compared to its average volume of 9,248,461. The firm has a market cap of $220.57 billion, a PE ratio of 26.48, a PEG ratio of 2.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.65 and a quick ratio of 1.98. QUALCOMM Incorporated has a one year low of $104.33 and a one year high of $230.63. The firm has a 50-day moving average of $193.66 and a 200 day moving average of $168.40.

QUALCOMM (NASDAQ:QCOM) last released its quarterly earnings results on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.11. The firm had revenue of $9.39 billion for the quarter, compared to analysts’ expectations of $9.32 billion. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. On average, sell-side analysts expect that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, May 30th were issued a $0.85 dividend. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, May 30th. QUALCOMM’s dividend payout ratio is currently 45.70%.

Insider Buying and Selling at QUALCOMM

In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Neil Smit sold 3,069 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $200.94, for a total transaction of $616,684.86. Following the transaction, the director now directly owns 5,902 shares of the company’s stock, valued at $1,185,947.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Neil Martin sold 1,116 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $196.11, for a total transaction of $218,858.76. Following the transaction, the chief accounting officer now directly owns 358 shares in the company, valued at $70,207.38. The disclosure for this sale can be found here. Insiders have sold a total of 45,185 shares of company stock valued at $8,206,875 in the last three months. 0.08% of the stock is currently owned by company insiders.

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.